KKR Buys 50% Of Fotolia For $150 Million
Private equity company Kohlberg Kravis Roberts & Co. (KKR) has acquired 50% of Fotolia for $150 million as part of a growth equity investment. KKR has over $62 billion in assets. Fotolia’s previous investor TA Associates worked with KKR Capital Markets and several banks to secure an additional $150 million in senior debt financing for Fotolia. This gives Fotolia an enterprise value of $450 million.
Fotolia rivals Shutterstock filed for a $115 million IPO recently and Getty Images was acquired by private equity company Hellman & Friedman in a transaction valued $2.4 billion in 2008.
Fotolia was founded in 2005 and has become the largest stock image website in Europe. They have over 17 million images and videos that can be licensed by customers. Fotolia is currently headquartered in New York. They received an investment of somewhere between $50 million and $100 million from TA back in 2009.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry