(KMSP) - Shutterfly, an online image publishing service, announced it purchased the Minnesota-based company Lifetouch Photography.
Headquartered in Eden Prairie, Lifetouch is known for school photography. Shutterfly bought the company for $825 million in cash and plans to broaden Lifetouch's product range, according to reports.
Lifetouch photographs more than 25 million children annually during the fall picture day tradition, serving more than 10 million households. In Lifetouch’s most recent fiscal year, revenue reached $963.9 million.