Getty Images, Shutterstock agree to merge in $3.7 billion deal. Here's what to know.
Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'
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.
Shutterstock and Getty Merge to Meet AI Challenge in $3.7 Billion Deal
The two big players in the licensed visual content will pair up to counter threats from artificial intelligence tools like Midjourney.
Getty Images, Shutterstock agree to merge in $3.7B deal as AI competition heats up
News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.
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 33% on news to merge with Shutterstock in $3.7 billion deal
Holdings Inc.’s stock GETY soared 33% in premarket trade Tuesday, after the company said it’s agreed to a merger of equals with Shutterstock SSTK in a deal with an enterprise value of about $3.7 billion.
Getty Images Merges with Shutterstock for Major Synergies
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Getty Images, Shutterstock gear up for AI challenge with $3.7 billion merger
Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock-image powerhouse geared for the artificial intelligence era, in a deal likely to draw antitrust scrutiny.
Seattle’s Getty Images will buy Shutterstock, creating company worth $3.7B
Seattle’s Getty Images is acquiring Shutterstock to create a business worth approximately $3.7 billion, the companies announced Tuesday.
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