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Getty Images to Acquire Shutterstock in $3.7 Billion Merger

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Merger,Stock Photo,Getty Images

Getty Images and Shutterstock, the two largest stock photo companies globally, are merging to form a company valued at $3.7 billion. Getty Images will acquire Shutterstock in a cash-and-stock deal, with Getty shareholders owning 54.7% and Shutterstock shareholders owning 45.3% of the new entity. The combined company will continue to operate under the Getty Images brand and list on the New York Stock Exchange.

The two largest stock photo companies in the world, Getty Images and Shutterstock, have announced they are merging to create a company with an expected valuation of $3.7 billion.

Combined, Getty and Shutterstock have hundreds of millions of images available for licensing purposes. News media, ad agencies, and filmmakers all license content from Getty and Shutterstock. The two companies represent thousands of photographers, many of whom rely on them for income.writes one Redditor

Getty Images CEO Craig Peters says “there has never been a better time for our two businesses to come together.” Peters will remain in his role at the helm of the combined businesses.

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