BOSTON, April 6, 2006 — Photoways, Inc., recently announced its purchase of all of the outstanding shares of PhotoBox Limited, a U.K.-based provider of online photo sharing, storing and printing services. In connection with the acquisition, Photoways also closed a preferred stock financing by its primary investors, Highland Capital Partners and Index Ventures. Photoways is a French-based leader of the European photographic online printing market. With the acquisition of PhotoBox, Photoways has created Europe’s largest online photo service with expected sales of over $30 million in 2006.
Goodwin Procter attorneys Mark Bettencourt, James Kasinger and James Burns represented Photoways in this deal.