The Carlyle Group said Wednesday it plans to acquire Getty Images for $3.3 billion in partnership with management of the Seattle company that provides photo and film footage to Hollywood studios and media outlets around the world.
Giant private equity group Carlyle will buy out a controlling stake from current majority owner, buyout firm Hellman & Friedman. Getty Images co-founder and chairman Mark Getty and the Getty family will roll substantially all of their ownership interests in to the transaction.
Getty Images management, including co-founder and CEO Jonathan Klein, will also invest significant equity in the company.
“In 17 years, we have built a business that has revolutionized 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,” said Mark Getty.
Carlyle managing director Eliot Merrill said: “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.”
Getty has clients in more than 100 countries and is one of the first places creative and media professionals turn to discover, purchase and manage images that appear every day in the world’s most influential newspapers, magazines, advertising campaigns, films, television programs, books and websites.