Apollo In The Lead To Purchase Shutterfly For Close To $2B

Private equity firm Apollo Global Management is in the lead to acquire Shutterfly, Inc. (NASDAQ: SFLY) for close to $2 billion, according to a Reuters report. The deal would be the culmination of several years of private equity interest in the firm.

Shutterfly is a digital imaging company which allows its customers to make photo books, cards and gifts from their photos.

Shutterfly shares were trading up 6.2 percent at $52 on Monday's pre-market session.