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Getty Images “buys Jupiterimages”

By Andrew Redfern @ 24th October 2008 5:28 pm

Getty Images today announced that it has entered into a definitive agreement to acquire Jupiterimages, a wholly-owned subsidiary of Jupitermedia (Nasdaq: JUPM), for $96 million in cash.

The acquisition will benefit existing and potential customers by making even more digital content easily accessible. The acquisition is subject to the approval of shareholders and the receipt of certain regulatory approvals.

“The digital content market is expanding, and the customers of both Getty Images and Jupiterimages will benefit from the combination of these businesses,” said Jonathan Klein, co-founder and CEO of Getty Images. “Jupiterimages’ customers already appreciate its value-based offerings, and through this acquisition we will be able to offer more content, better technology, more customer service and additional local content.

Combining Jupiterimages’ product with Getty Images’ extensive media assets and global distribution will further enhance Getty Images’ offerings and provide more relevant content to both companies’ customers while extending the presence of the Jupiterimages brand to customers around the world.”

Getty Images will retain the Jupiterimages brand and website, and will integrate Getty Images’ technology, licensing expertise, content, business processes and service. Jupiterimages’ large portfolio of wholly-owned imagery will allow Getty Images to offer still more versatility and flexibility in providing imagery and other content assets to customers. Additionally, Getty Images’ global distribution channels will increase international customers’ access to Jupiterimages’ products and services, including the Jupiterimages Unlimited subscription product.

“Jupiterimages has built a foundation that Getty Images will build upon to the benefit of customers worldwide,” added Klein. “Getty Images has always been dedicated to making strategic investments that will provide long-term value to our customers.”

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