Getty acquires royalty-free photo business for $165m

Getty
Images has acquired Londonbased Digital Vision, one of the world’s
leading royalty-free photography businesses, for $165m (about £87m).

It
is the largest acquisition Getty Images has made in five years. The
company said it wants to invest in building up Digital Vision’s
collection of stock photography, used mainly by the advertising
industry, and that this would create more opportunities for
photographers.

Jonathan Klein, Getty Images’

co-founder and
chief executive officer, said: “Additionally, this transaction gives us
a wealth of wholly-owned content, which will allow us to explore
innovative offerings such as subscription licensing models and content
for emerging broadbandenabled platforms, such as wireless.”

The
company expects to increase investment in Digital Vision content to
broaden the collection in terms of number of images, depth and
geography.

“We look forward to offering visual communicators the
best and most relevant royalty-free imagery collections available in
the world,” said Klein.

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