Kodak has today announced it is acquiring Ofoto. Kodak, obviously realising that a large chunk of their future is reliant on consumer digital imaging has today signed a "definitive agreement" to buy the online photofinishing giant Ofoto. "The acquisition enhances our leadership in the growing market for online photo services. By combining Kodak's and Ofoto's technology, marketing and distribution assets, we will be able to deliver the most comprehensive, easy-to-use online photography services to customers and consumers,'' said Shih. "This will accelerate Kodak's growth and drive more rapid adoption of online photography.'' UPDATE: Shutterfly Comment.