Getty Images to go public in a deal with CC Neuberger SPAC
- ByStartupStory | December 11, 2021
After a hiatus of 13 years, Getty Images has announced that it will return to the public market in a deal that values the supplier of stock photos and videos at about $4.8 billion, including debt to merge with a blank-check firm backed by Neuberger Berman which is also backed by CC Capital.
The deal will provide the company with proceeds of up to $1.2 billion, including funds from the special purpose acquisition company’s (SPAC) trust account and a $150 million private investment in public equity. Getty was previously acquired by the Carlyle Group in a $3.3 billion deal.
Founded in 1995 by Mark Getty and Jonathan Klein, the company’s brands include iStock, its value offering for mid-sized businesses and individuals, and Unsplash, which Getty acquired earlier this year. It competes with Reuters News and Associated Press in the market for images meant for editorial use.
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