HP to acquire Snapfish photo service

Aiming to boost its presence in the digital-photography market, Hewlett-Packard said Monday that it plans to buy online photo service Snapfish.

HP said it has signed a definitive agreement to acquire the privately held company and that it expects the deal to close next month. The company did not announce financial details. "Bringing Snapfish into HP's digital-photography portfolio is a strategic move for both companies," Larry Lesley, HP's senior vice president of consumer imaging and printing, said in a statement. "By offering a superior online photo service through Snapfish, we will be able to offer the home photographer greater choice when deciding exactly how, when and where they share, store and print their photos."

News source: C|Net News.com