HP to Acquire Snapfish - Online Photo

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HP is investing in the market for online photo printing, and its first move is the signature of a definitive agreement to acquire Snapfish, an online photo service provider.

Snapfish offers high-quality photo products and services. These include free online photo sharing, photo storage and management, free editing tools and software, online print ordering, wireless imaging services for camera phone and color handset users, and more than 70 personalized photo products, such as calendars, mousepads and the like.

Snapfish also provides infrastructure services to retailers, ISP and wireless carriers, allowing them to offer these same products and services to their own consumers.

Snapfish has more than 13 million registered members and is growing at a rate of more than 500,000 members per month. Researches show that 90 percent of Snapfish's customers have recommended the service to others.

Snapfish customers will have the same benefits they receive today, along with added benefits from HP's digital photography portfolio, including access to products and information that will help enhance their digital photography experience. Both companies assured that all images and personal information will remain safe and secure.

The acquisition, which is subject to various standard closing conditions, is expected to close in April 2005.