Summary:

FotoDesk, a Switzerland-based online imaging software company, has bought out two photo related sites: it has bought online digital photo pr…

FotoDesk, a Switzerland-based online imaging software company, has bought out two photo related sites: it has bought online digital photo printing company Colorplaza SA, a portfolio company of New Value AG, and separately, has also bought flauntR, the comprehensive solution provider for online photo editing, storage and sharing. With the Colorplaza deal, New Value did a share swap, and also invested CHF 1.0 million into the FotoDesk Group. New Value will own 45 percent of FotoDesk Group.

FotoDesk provides services across Europe, through sites in 9 languages. It has just launched in U.S. and India will follow later in 2008. Colorplaza was founded in 1999 and has partnership deals with with Sony Ericsson (NSDQ: ERIC), Microsoft (NSDQ: MSFT) and Sony (NYSE: SNE). More details in release.

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By Rafat Ali

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