The new company will be named Getty Images Holdings and will have Getty Images' CEO Craig Peters as its head.
The purpose of the merger is for the combined agencies to strengthen their financial position. This will provide room for investments in new technology, new products, and innovation in a highly competitive and rapidly changing market, writes Getty Images in a press release.
The total company value is estimated at 3.7 billion dollars (approximately 41 billion kronor). The combined revenue of the two companies in 2024 is estimated at nearly two billion dollars.
The economies of scale resulting from the merger are estimated at 150-200 million dollars.
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