Photo sharing service Photobucket.com and Ontela, provider of imaging services for operators, announced an agreement to merge their operations.
The combined company, Photobucket Corporation, will bring together Photobucket’s audience of more than 22 million monthly unique users in the U.S. with Ontela’s software that is currently used by more than 30 carriers, Verizon and T-Mobile included.
News Corporation, which acquired Photobucket in 2007, will hold a significant equity stake in the combined company and will be represented on the company’s board of directors. The Photobucket management team will continue to operate the business and play strong leadership roles in the combined company.
Ontela’s investors, on the other hand, will make an additional capital commitment as part of the merger and will hold significant equity positions in the combined company…