Albumprinter snapped up for A$80 million

Vistaprint buys the Dutch company for EUR 60 million to expand its European offering with photobooks.

Another EUR 5 million will be paid on a performance based earn-out. According to Vistaprint’s CFO, Ernst Teunissen, the acquisition will add up to $39 million in revenue to Vistaprint’s fiscal year ending June 30, 2012.

The announcement follows the online printing company’s 2012 first quarter financial report. It shows a 25% growth in revenue year-on-year, from $170.5 million to $212.4 million.

Revenue from Asia Pacific customers was $13.7 million, or 6% of total revenue in the first quarter. This represents 67% growth year-on-year.
Robert Keane, CEO of Vistaprint, says the company’s 2012 financial year is off to a good start with revenue and earnings in the first quarter meeting expectations.

"This was a quarter of solid performance against our plan. Four months into our multi-year plan, we remain confident that we are making the right decisions in funding our long-term strategy for growth and competitive advantage.

“This quarter we made disciplined investments designed to better position us to capture what we believe to be a large opportunity, and build a strong company for many years to come,” he said.