Getty Images (NYSE: GETY) Announces Merger Agreement with Shutterstock (NYSE: SSTK) to Form Premier Visual Content Company

Seattle-based Getty Images Holdings, Inc. has officially entered into a definitive agreement to merge with Shutterstock. This transformative merger, with an enterprise value of approximately $3.7 billion, is positioned to create a leading global visual content company. Under the merger agreement, on January 6, 2025, Getty Images Holdings, Inc. and Shutterstock have laid out plans for a strategic union, aimed at offering an expanded range of content solutions to cater to diverse markets and audiences worldwide.

The merged company, to be named Getty Images Holdings, Inc, will continue to trade on the New York Stock Exchange under the ticker symbol “GETY”. Craig Peters, CEO of Getty Images, expressed excitement at the prospects of the merger, emphasizing the combined organizations’ capacity to better address customer needs and deliver enhanced value to stakeholders, including partners, contributors, and stockholders. He highlighted the potential for increased investment in content creation, event coverage, and technological advancements to serve evolving market demands.

Paul Hennessy, CEO of Shutterstock, echoed this enthusiasm, outlining the mutual benefits and opportunities that the merger would bring. The transaction is expected to drive growth, innovation, and efficiencies, positioning the combined entity as a formidable force within the visual content industry. Financially, the merger envisions significant synergies and improved cash flow generation, creating ample room for innovation and value creation for customers and investors.

The merger is still subject to customary closing conditions, including regulatory approvals and approvals from Getty Images and Shutterstock stockholders. Upon consolidation, the leadership structure will see Craig Peters continue as CEO of the united entity, backed by a seasoned Board of Directors comprising representatives from both Getty Images and Shutterstock, with Mark Getty expected to assume the role of Chairman.

Financial terms of the merger involve a range of considerations for Shutterstock stockholders, allowing them to elect between cash payments, Getty Images stock, or a mix of both, with proration mechanisms in place to ensure equitable outcomes. The proposed deal aims to amplify product offerings, expand creative content libraries, and drive enhanced customer experiences through cutting-edge technological innovation.

The merger announcement signifies a landmark development in the visual content industry, marking a strategic move by Getty Images and Shutterstock to pool resources, assets, and expertise for mutual gain. The transaction heralds a new chapter of growth, innovation, and value creation for stakeholders and customers alike.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Getty Images’s 8K filing here.

About Getty Images

Getty Images Holdings, Inc offers creative and editorial visual content solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its products include Getty Images that offers creative and editorial content including stills, music and video which focuses on corporate, agency, and media customers; iStock.com, an e-commerce offering where customers have access to creative stills and video; Unsplash.com, a platform offering free stock photo downloads and paid subscriptions targeted to the high-growth prosumer and semi-professional creator segments; and Unsplash+ that provides access to unique model released content with expanded legal protections.