Carlyle will acquire a controlling stake in Getty Images while Getty Images co-founder and chairman Mark Getty, and the Getty family, will “roll substantially all of their ownership interests into the transaction”.
Getty Images management, including co-founder and chief executive officer Jonathan Klein, “will also invest significant equity in the company”.
In a release he said:
Getty Images consistently demonstrates growth, leadership and prominence as one of the world’s leading media companies. This partnership with The Carlyle Group reflects and bolsters our ongoing strategy, strong management team and the talent of our dedicated employees. We are delighted to collaborate with Carlyle, with its formidable pedigree and success, and take the business into its next phase of development and growth.
Mark Getty said:
In seventeen years, we have built a business that has revolutionised the industry, with innovation at its core. I am confident that the partnership between Getty Images and The Carlyle Group will see the company’s success continue.
Eliot Merrill, managing director of The Carlyle Group commented:
Getty Images is the premier, digital global marketplace for commercial visual content. We look forward to partnering with Mark Getty, Jonathan Klein and the talented Getty Images management team. We will harness Carlyle’s financial resources and global network to help take Getty Images to the next stage of product innovation and global growth.