Merger in the Image Database Industry: Getty Images Acquires Shutterstock

Getty Images has agreed to acquire the competing company Shutterstock, resulting in a combined company valuation of approximately $3.7 billion, including debt. This merger unites two prominent providers in the stock photography sector and promises to significantly consolidate the market. According to a statement on Tuesday, Getty Images offers to pay around $28.85 in cash or about 13.67 Getty Images shares for each Shutterstock share. Alternatively, Shutterstock shareholders have the option to receive a combination of cash and Getty shares. The transaction was previously reported by Bloomberg News and is now confirmed. This strategic decision could have significant impacts on the structure and offerings of image database services, which is likely to be of interest to both customers and investors.