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Will the Getty Images and Shutterstock merger achieve $150 million in cost synergies by end of 2027?
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Financial reports or official statements from the merged entity
Story
Getty Images and Shutterstock Announce $3.7 Billion Merger, Projecting $2B Revenue and $150M-$200M Cost Synergies
Jan 7, 2025, 11:26 AM
Getty Images and Shutterstock have announced a merger valued at $3.7 billion, aiming to create a leading visual content company. The transaction is projected to be accretive to earnings and cash flow by the second year, with expected annual cost synergies ranging from $150 million to $200 million by the third year. The pro forma revenue for 2024 is estimated to be around $2 billion. Following the announcement, Getty Images' market value reached $983 million, and its stock surged by 33%. The merger is anticipated to enhance the combined enterprise value to $3.7 billion.
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