Apollo reels in photo sites

Private equity investment giant Apollo Global Management is taking Shutterfly private in a deal valued at more than $1.7 billion, announcing the tandem acquisition of Snapfish. The Shutterfly and Snapfish websites allow people to create photo books and mementos. Shutterfly also owns other brands, including Lifetouch and Tiny Prints. New York Citybased Apollo did not disclose what it paid for Snapfish, which Hewlett Packard acquired in 2005 for $300 million and owned for a decade before selling it to District Photo.