Photo storage service SmugMug acquires Flickr

Photo management platform SmugMug said on Friday it has agreed to buy image and video-hosting website Flickr for an undisclosed amount.

Flickr will continue to operate as a separate entity after the deal closes, SmugMug said.

"Uniting the SmugMug and Flickr brands will make the whole photography community stronger and better connected," SmugMug Chief Executive Don MacAskill said in a statement. "Together, we can preserve photography as the global language of storytelling."

Verizon bought Yahoo Inc's core business for $4.48 billion last year and the acquisition included Flickr, among other web properties.