Mergers and Acquisitions: Google Purchases Nik, Shutterfly Buys Penguin
Google Inc. (NASDAQ:GOOG) answers Facebook’s (NASDAQ:FB) Instagram purchase by acquiring Nik Software, which is known for developing Snapseed, a $4.99 iOS photo-editing application that receives rave reviews. The latter surpassed the 9 million customer milestone in June, and will be integrated with Google+ if plans go as expected.
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Shutterfly, Inc. (NASDAQ:SFLY) buys Penguin Digital, which developed an application that enables users to order prints and purchase other photo-related products via their phones. The buyer’s photo solutions unit is built around the same line of services, and both will re-brand Penguin’s application and merge it with its current mobile lineup.
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