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Getty Images on Tuesday saidit has agreed to mergewith its rival Shutterstock in a cash - and - gunstock wad . The combined entity is expected to be value at $ 3.7 billion based on yesterday ’s culmination portion prices . This announcement confirmsearlier reportingfrom Bloomberg .
Both companies offer strain photos and telecasting footage that can be certify and reused . This content is commonly used by intelligence organization , picture show and docudrama makers , ad agencies , merchandising firms , and more .
Getty Images is the bigger company of the two , and its shareholders will own approximately 54.7 % of the new entity , while Shutterstock stockholder will own 45.3 % . Getty Images also owns the iStock and Unsplash brand name . The company will merely be foretell Getty Images .
As part of the deal , Shutterstock shareholders can make up one’s mind to receive $ 28.80 per contribution in cash , or 13.67 shares of Getty Images , or a mix of both .
Today ’s move come at a crucial clip , as contrived intelligence is shake up things up for the stock image industry . AI represents both an opportunity and a scourge , as Getty Images can prefer to license its content to AI companies so that they can train their next - contemporaries manikin . At the same sentence , its customers might determine to use productive AI tools , such as Midjourney , OpenAI ’s Dall - E , and Runway ML , to create images and TV that outfit their motive .
“ Today ’s announcement is exciting and transformational for our companies , unlock multiple opportunity to strengthen our fiscal foundation and vest in the future — including enhancing our content offer , thrive event coverage , and surrender fresh technologies to well serve our customers , ” Getty Images CEO Craig Peters ( pictured above ) said in a command .
This merger could get out antitrust scrutiny . It will be interesting to watch how the incoming Trump administration contrive to manage this deal in the coming months .
