Jan 07, 2025 05:47 PM IST
Shutterstock and Getty Photos will merge to kind a $3.7 billion visible content material firm, enhancing their portfolios with various merchandise.
Visible content material corporations Shutterstock and Getty Photos will be a part of to develop into a $3.7 billion visible content material firm.
Getty Photos and Shutterstock will mix to kind a $3.7 billion visible content material enterprise.(Bloomberg)
The businesses mentioned Tuesday that they’ve complementary portfolios, and the transaction creates a broader set of visible content material merchandise throughout nonetheless imagery, video, music, 3D and different asset sorts.
“With the speedy rise in demand for compelling visible content material throughout industries, there has by no means been a greater time for our two companies to come back collectively,” Getty Photos CEO Craig Peters mentioned in an announcement on Tuesday.
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Peters will function CEO of the mixed enterprise.
On the deal’s closing, Shutterstock shareholders can select to obtain both roughly $28.85 per share in money for every share of Shutterstock widespread inventory they personal; about 13.67 shares of Getty Photos widespread inventory for every share of Shutterstock widespread inventory they personal; or a combined consideration of 9.17 shares of Getty Photos widespread inventory plus $9.50 in money for every share of Shutterstock widespread inventory they personal.
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The mixed firm will maintain the Getty Photos identify and can proceed to commerce on the New York Inventory Trade underneath the ‘GETY’ ticker image.
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