Getty Images is sold for 2.4 billion dollars
Private equity firm Hellman & Friedman plans to acquire Getty Images, the world's largest photo agency, for approximately $2.4 billion. The agency's board of directors has approved the deal. The purchase price includes debt of up to $400 million.
The financial investor Hellman & Friedman wants to acquire Getty Images, the world's largest photo agency, for around 2.4 billion dollars. The agency's management board has approved the deal. The purchase price includes debt of up to 400 million dollars. Founded in 1995, the photo and video agency has grown rapidly through acquisitions, but is suffering from fierce competition on the image market. Its customers include advertising agencies and the media. Its biggest competitors are Jupitermedia and Microsoft founder Bill Gates' private agency Corbis. Other competitors are news agencies with their image offerings.
Getty's stock market value had almost halved in the past year. At the start of trading on Monday, Getty shares shot up by a good 31 percent to 32.10 dollars, according to SDA.
Getty's stock market value had almost halved in the past year. At the start of trading on Monday, Getty shares shot up by a good 31 percent to 32.10 dollars, according to SDA.
