Jan 7, 2025 - Business

Getty Images and Shutterstock agree to merge

Getty Images Holdings and Shutterstock agreed to combine in a deal that creates a $3.7 billion visual content company.

Why it matters: The deal underscores the soaring demand for images and related content from content creators and platforms.

Zoom in: Getty CEO Craig Peters will remain chief executive of the combined business, which will trade under the GETY ticker symbol.

Shutterstock shareholders get one of the following: $28.84 per share in cash ($1.03 billion based on Shutterstock's outstanding shares); 13.67 shares of Getty for each Shutterstock share they own; or a mix of cash and stock.
The companies estimate synergies in the range of $150 million-$200 million.

What's next: The agreement is subject to regulatory approval and shareholder approval for both companies.

This story has been updated to included the value of Shutterstock's outstanding shares.