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September 1, 2013 12:22 pm GMT

Shutterfly Has Acquired Photo Printing Company R And R Images

photostory-appShutterfly has acquired R and R Images. Terms of the deal were not disclosed.The company announced that it gave an inducement grant to R and R Images' founder Rod Key. The grant consists of up to 38,492 shares of Shutterfly stock vested over three years. At the time of publication, Shutterfly's stock was at $51.96 per share, making the total shares worth about $2 million.

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