Mergers and Acquistions News
Categories: Telecoms
December 17th 2009, 17:02PM
One of the internet's most popular photo sites, Photobucket.com, has announced an agreement to merger with wireless carrier imaging service provider Ontela.
The new company will trade as Photobucket Corporation and will combine Photobucket's 22 million monthly users in the US with Ontela's software, which is currently used by more than 30 wireless carriers, including Verizon and T-Mobile.
News Corporation, the owner of Photobucket, will retain a significant equity stake in the combined company, which plans to provide distribution and consumer access to more than 140 million wireless subscribers.
"As consumers evolve the ways in which they capture, consume and share their photos and video across multiple devices, there couldn’t be a more perfect partner for Photobucket to align with as it enters this new chapter," commented Jon Miller, chief executive officer of digital media for News Corporation.
Photobucket was founded in 2003 and has its headquarters in Denver, Colorado.
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