| To: Billy Barooo who wrote () | 10/27/1999 1:35:00 PM | | From: REH | | | |
Getty Images Announces Exclusive Marketing Alliance With Adobe Systems;
Agreement will link Adobe customers with Getty Images' visual content
collections
SEATTLE, Oct 27, 1999 (BUSINESS WIRE) -- Getty Images, Inc. (NASDAQ:
GETY), the leading e-commerce provider of imagery, today announced an
agreement with Adobe Systems Incorporated (NASDAQ: ADBE), the leading
brand in graphic design, publishing and imaging software for web and
print production. Commencing in the fourth quarter of 1999, the
agreement makes Getty Images a premier visual content source for
Adobe's newly redesigned website, www.adobe.com, where professional
publishers collaborate and conduct e-business on the web.
The two-year agreement with Adobe, exclusive for an initial period,
makes Getty Images' market-leading still and moving imagery, audio,
illustration and clip art available on www.adobe.com, making it even
easier for customers to find, purchase and download the tools they
need, anytime day or night.
"This relationship fuels our strategy of developing online working
environments for creative professionals and business users," said Mark
Getty, co-founder and Executive Chairman of Getty Images. "We intend to
offer selected visual content, graphic design tools and services,
including photographic and non-photographic content from leading third
party partners, on our hub websites."
Currently, Adobe.com features images from Getty Images' PhotoDisc
brand. When Getty Images launches the first of its hub websites in the
fourth quarter of this year, targeted at creative professionals, Adobe
customers will have easy access to Getty Images' extensive product
lines directly from Adobe.com. These customers are ideally positioned
to become purchasers of Getty Images' visual content products. Getty
Images will be a premier visual content provider with direct traffic
links from the Adobe.com site.
"Adobe is the clear market leader in graphics software, establishing
itself as a force to be reckoned with on the web, and is therefore a
fantastic partner for Getty Images. We are delighted to provide Adobe's
online customers with Getty Images' full line of digital products,"
said Jonathan Klein, co-founder and Chief Executive Officer of Getty
Images. "Both companies have embraced e-commerce as a means to
distribute their products and we look forward to working with Adobe to
provide creative professional customers with the broadest array of
relevant online content possible."
"The agreement with Getty Images is a tremendous opportunity to provide
our online customers with direct access to a broad array of
high-quality digital imagery, said Jim Stephens, Senior Vice-President
of E-Business Development, Adobe Systems Incorporated. "Getty Images'
professional-quality content makes them an ideal fit for Adobe.com."
About Getty Images
Getty Images, Inc., with over 30 million photographs and more than 15,
000 hours of film, is the leading e-commerce provider of imagery to
both professional and consumer markets. The company's four divisions
provide high-quality, branded imagery, meeting the distinctly different
needs of customers in the following market segments:
-- Creative Professional- advertising, design agencies, web
designers and corporate marketing
-- Press and Editorial - magazines, newspapers, book publishers and
web publishers
-- Business User - business communications and small-office,
home-office (SOHO)
-- Consumer - framed and unframed art and related products
The company uses its extensive web-technology expertise to create
e-commerce-enabled sites that allow customers to quickly and easily
access and purchase images. Headquartered in Seattle, the company has
approximately 1,600 employees worldwide, and had revenues of $55
million in the second quarter of 1999. The company's 1998 revenues were
approximately $185 million.
In September of 1999, Getty Images announced an agreement to acquire
The Image Bank, one of the best known companies in the visual content
industry, with significant contemporary and archival photography and
film footage assets. The transaction is expected to close in the fourth
quarter of 1999.
Getty Images' market-leading visual content brands are:
Creative Professional: Editorial and Press:
Tony Stone Images www.tonystone.com Hulton Getty www.hultongetty.com
----------------- -------------------
Energy Film Library www.energyfilm.com Allsport www.allsport.com
------------------ ----------------
PhotoDisc www.photodisc.com Liaison Agency www.liaisonphoto.com
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EyeWire www.eyewire.com Online USA www.onlineusa.com
--------------- -----------------
Business User: Consumer:
EyeWire www.eyewire.com Art.com www.art.com
--------------- -----------
PowerPics www.powerpics.com
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For more information on Getty Images and its market-leading brands
please visit the company's website at getty-images.com. |
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| To: Billy Barooo who wrote () | 3/23/2000 1:47:00 PM | | From: lehoogie | | | | |
What's the news stock moving up slowly...beer parties in Fremont on Friday's ...bought some part of kodak? |
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| From: Glenn Petersen | 1/16/2022 7:16:05 AM | | | | | | Getty Images to List in $4.8 Billion Deal With Neuberger SPAC
By Crystal Tse
Bloomberg
December 10, 2021, 4:02 AM CST
-- Ex-Blackstone dealmaker engineers merger with photo provider
-- Getty returning to public markets after more than a decade
The Getty Images website. Source: Getty Images
--------------------------
Getty Images has agreed to merge with a blank-check firm backed by CC Capital and Neuberger Berman, returning a company bearing one of the most storied names in business to the public market.
The deal values the Seattle-based licensing provider of stock and news photos at $4.8 billion including debt, according to a statement. The agreement with special purpose acquisition company CC Neuberger Principal Holdings II involves a total equity investment of $1.2 billion. That includes funds raised by the SPAC and a $150 million private investment in public equity, or PIPE.
Getty is valued in the transaction at 15.2 times an estimated $315 million in adjusted earnings before interest, taxes, depreciation and amortization for 2022, the companies said. The SPAC is led by former Blackstone Group Inc. senior managing director Chinh E. Chu.
The 26-year-old company initially favored a traditional initial public offering before picking CC Neuberger, which will invest $600 million in the transaction, Getty Chief Executive Officer Craig Peters said in an interview.
Reducing Debt
“It was really about CC Neuberger, I think much more so than it was about SPAC or IPO,” Peters said. “That quantum of capital and that certainty and a partner that was very vested in the transaction and believed in the Getty business is really what differentiated them.”
Proceeds from the deal will primarily go toward reducing debt, Peters said. The remainder of the capital will allow Getty to invest in organic growth, he said.
Peters, who joined Getty in 2007 and became CEO in 2019, will continue to lead the company.
Getty was taken private by the buyout firm Hellman & Friedman in a $2.4 billion transaction in 2008. Hellman & Friedman sold a controlling stake in the company to Carlyle Group Inc. through a $3.3 billion deal in 2012. The Getty family took control of the company in 2018, acquiring Carlyle’s stake. Later that year, Koch Industries Inc.’s investment arm took a minority stake in the business, according to a statement.
Oil Wealth
The directors of the combined company will be appointed by the Getty family, Koch and the SPAC’s sponsor. Co-founder Mark Getty, the grandson of oil magnate J. Paul Getty, will continue as chairman.
“As a public company Getty Images will be able to aggressively invest in more product and service solutions to address the needs of all of our customers,” Getty said in the statement. “This will cement and enhance our position as the first-place people turn to discover, purchase, and share powerful visual content from the world’s best photographers and videographers.”
CC Neuberger Principal Holdings II raised $828 million in its initial public offering in July 2020, including so-called greenshoe shares. In addition to Chu, the SPAC is led by Matthew Skurbe, Douglas Newton, Jason K. Giordano, Charles Kantor and others at CC Capital and Neuberger Berman.
The transaction must still be approved by the SPAC’s shareholders. The combined company’s shares are expected to trade on the New York Stock Exchange under the symbol GETY.
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