Photobucket and Ontela to Merge Operations

Dec 18, 2009


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Photo-hosting site Photobucket and wireless imaging services provider Ontela announced that they reached an agreement whereby the two companies will merge operations. The merger will result in the formation of a new company, to be called Photobucket Corporation, which will leverage the assets of both companies by combining Photobucket's audience of 22 million monthly users with Ontela's wireless carrier relationships.

News Corporation, which acquired Photobucket in 2007, will hold a significant equity stake in the new company and will be represented on the board of directors. Ontela's current CFO, Tom Munro, will serve as president of the company and will be aided by Photobucket's managing team, who will remain in leadership roles.

(www.photobucket.com, www.ontela.com)