Getty Images and Shutterstock are merging into one stock photo powerhouse
Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.
Getty Images and Shutterstock to merge to form $3.7B stock photo giant
Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.
Getty Images to Acquire Shutterstock to Create $3.7 Billion Firm
Getty Images Holdings Inc. agreed to acquire rival stock-photo provider Shutterstock Inc. in a deal that would create a combined company worth about $3.7 billion including debt.
Shutterstock and Getty Images Will Join to Become a $3.7 Billion Visual Content Company
Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company
Getty’s stock soars 42% after image company agrees to merge with Shutterstock in $3.7 billion deal
The deal is expected to generate annual cost synergies of $150 million to $200 million by year three and to boost earnings and cash flow by year two.
Getty Images, Shutterstock Stocks Jump on Merger Deal
Shares in Getty Images and Shutterstock surged after the image companies agreed to merge, creating a group worth about $3.7 billion including debt. Getty stock stood about 49% higher in recent premarket trading.
2 of the largest stock photo platforms are merging, sending their shares up
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