IncrediMail Buys Smilebox for $25M in Cash

Publicly traded digital media company IncrediMail Ltd. will pay $25 million in cash, and up to $15 million in milestone-based payments, to acquire Smilebox Inc. Redmond, Wash.-based Smilebox, an online photo album and slideshow creator, was backed by investors including Bessemer Venture Partners and Frazier Technology Ventures. The company, formed in 2005, had raised at least $14 million from investors.

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