Private equity firm Hellman & Friedman is buying Getty Images for $2.4bn. Getty is one of the largest stock image providers online. Its library contains over 70 million pictures and 30,000 hours of film footage.
Under the terms of the sale agreement, Getty’s stock holders will receive $34.00 in cash for each share of stock they own. The $2.4bn price represents roughly a 50% premium over Getty’s market cap.
Getty’s sale definitely proves that the premium stock photo Industry is alive and well.