HP’s photo sharing and printing service Snapfish is up for sale, according to an anonymous source with knowledge of the matter.
The source told the Reuters that the company has had talks with some potential buyers, however, has not yet decided to make the announcement official.
A HP spokesperson declined to comment. The source did not disclose any information about the potential buyers or the financial figures involved.
HP acquired Snapfish in 2005 in a $300 million deal and made it a part of its Printing and Personal Systems group. The company decided to sell be it thinks this line of business to be not a core business of HP, said the source.
HP’s printing and personal business head Todd Bradley was replaced last year with former Lenovo executive Dion Weisler and Bradley moved on to the position of President of Tibco Software Inc.
It is also said that the parties who had talks with HP regarding the acquisition of Snapfish have also expressed interest in buying similar services, especially Shutterfly Inc, which is engaged in offering online photo sharing services. It is also said that the company has sought the assistance of Frank Quattrone’s Qatalyst Partners to help with finding a buyer.
Additional information points out that Shutterfly might have found a buyer and the deal might be inked in a few weeks. HP Snapfish’s rival Shutterfly has purportedly received offers from companies like Bain Capital, Hellman & Friedman, and Silver Lake.
