Throughout its 16-year history, Getty Images has been an acquisitive company. In fact, part of the reason why Getty calls Seattle home is because of an acquisition — the 1997 buyout of PhotoDisc. So, is the company on M&A path once again? It appears so. For the second time in the past week, Getty Images has made a buy. It announced today that it is gobbling up Photolibrary, a stock image company with more than 10 million images and an especially strong presence in India, the Middle East and Southeast Asia.
The deal follows the acquisition of PicScout, a company that specializes in digital image licensing technologies. That $20 million acquisition was announced last week, a deal which CEO Jonathan Klein said ”will enable us to bring a vital service to a greater number of imagery agencies and companies around the world and make it possible for them to successfully manage the licensing of the content they represent.”
Getty itself was purchased by the private equity firm Hellman & Friedman in 2008. Oftentimes, private equity firms will use an acquired company to roll up others in a particular industry.
Could we see more deals on the horizon?