![]() IncrediMail says it expects its new asset to generate cash sales in excess of $15 million in 2012 and be EBITDA accretive in the second half of 2012.Īfter closing, Smilebox will continue to operate from its Redmond-based offices, which currently employs roughly 50 people. Smilebox says more than 15 million people have installed the software since the service was launched in June 2006. Smilebox, which was founded in 2005 by Andrew Wright, also offers a desktop application that allows users to use personal photos and videos to build ecards, invitations, slideshows, scrapbooks, photo albums and whatnot (see also Animoto, Muvee and Photobucket). The company also markets PhotoJoy, a free application that let users create personal wallpapers and screensavers using his or her own digital photos. IncrediMail offers a desktop-based email program and a range of add-ons like a browser toolbar and an instant messaging tool. IncrediMail CEO Josef Mandelbaum in a statement says buying Smilebox allows the company to diversify its product portfolio and increase its premium subscription base. The company says approximately 10 percent of the acquisition consideration will be held in escrow for 18 months.Īccording to its CrunchBase profile, Smilebox raised $14 million in funding since its inception. Under the terms of the agreement, IncrediMail will pay $25 million, mostly in cash, with additional payments of up to $15 million in earn-out fees if certain milestones and performance based conditions are met. company that develops consumer-focused photo sharing and scrapbook creation tools. ![]() ![]() Nasdaq-listed IncrediMail, which develops and markets email and other desktop software products, is to acquire Smilebox, a U.S. To Contact CoAEMSP: Committee on Accreditation of Educational Programs for the Emergency Medical Services Professions.
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