Trillium Capital offers $10 per share for Getty Images
Investment firm Trillium Capital offered to buy Getty Images at $10 per share on Monday, escalating its battle to shake up the digital media company.
Why it matters: Trillium's bid puts the company in play, establishing a base bid for the business and opening the door for other buyers to emerge.
Catch up quick: Getty Images has been under attack from Trillium to make various strategic moves to boost the company's valuation.
- Getty had a market value of around $2 billion at Friday's close and shares are up more than 40% in early trading.
What they're saying: Trillium's managing partner Scott Murray tells Axios he believes the company can use artificial intelligence to upgrade its platform and to expand the business overseas.
- Trillium says it owns hundreds of thousands of shares of common stock and common stock equivalents of Getty.
- Murray added that he thinks Microsoft, Adobe, and Facebook could be logical buyers of Getty, and that the company is still not communicating with him.
- "I just need them to talk with me," he said.
Getty Images did not immediately respond to a request for comment on Trillium's offer.