HP's Snapfish acquires Motionbox video platform

SAN FRANCISCO, USA: Hewlett-Packard Co said on Monday it has acquired the video technology platform of startup Motionbox Inc, as it looks to expand the video-sharing capabilities of its Snapfish photo website.

Financial terms of the deal were not disclosed.

Also read: HP brings printers that talk to cloud

Motionbox, which has more than 2.8 million members, allows users to post, share and edit videos online. The company's current website will continue operating until Aug. 10, HP said.

Motionbox investors included Canaan Partners and SAS Investors.

Also read: RCom, Polycom to bring wireless video conf

HP's Snapfish has more than 85 million registered users. HP acquired the company in 2005.

Shares of Palo Alto, California-based HP closed up 1 percent at $45.68 on the New York Stock Exchange.