Eastman Kodak Co. (fka EKDKQ)

[JulianAssange]

Shutterfly Bids $23.8 Mln For Kodak Gallery Business

Eastman Kodak has agreed to a $23.8 million “stalking horse” bid from Shutterfly for its Kodak Gallery photo services site, Reuters reports. The tentative deal, part of Kodak’s Chapter 11 bankruptcy restructuring process, is subject to receiving higher bids from other parties.

Shutterfly and Kodak Gallery provider similar services, allowing customers to upload photos to the Web and to create calendar, photo books, greeting cards and other products.

Under terms of the proposed deal, Kokdak would transfer Gallery customer accounts and images to Shutterfly.

http://www.forbes.com/sites/ericsavitz/2012/03/01/shutterfly-bids-23-8-mln-for-kodak-gallery-business/