The Carlyle Group and Getty Images management complete the acquisition of Getty Images

gettyimages.jpgGetty Images, a global creator and distributor of still imagery, video and multimedia products has announced the completion of its acquisition by The Carlyle Group (NASDAQ: CG), in a transaction valued at approximately $3.3 billion.  

With the completion of the transaction, The Carlyle Group has acquired a controlling stake in Getty Images. Getty Images Co-Founder and Chairman Mark Getty and the Getty family have rolled substantially all of their ownership interests into the acquisition. Getty Images management, including Co-Founder and Chief Executive Officer Jonathan Klein, have invested significant equity in the company.
"We are pleased to announce the completion of this transaction in partnership with The Carlyle Group," said Klein. "The Carlyle Group's global resources and network will be a great help to us as we move Getty Images forward into the next phase of our development and growth."

Eliot Merrill, Managing Director of The Carlyle Group, said, "In the last seventeen years, Getty Images has established itself as a leading digital media company and a business steeped in innovation. We look forward to partnering with Getty Images' experienced and talented management team in expanding the company's global footprint."

Carlyle Partners V, L.P. a $13.7 billion U.S. buyout fund, provided equity financing for the investment. J.P. Morgan, Barclays, Credit Suisse, Goldman, Sachs & Co, HSBC, Nomura and RBC Capital Markets provided debt financing for the transaction. 

Leave a comment

About Campaign Brief Asia

A blog for advertising creatives in Asia. To pass on news or advertise on the CB Asia blog, or to subscribe to Campaign Brief Asia or Campaign Brief Australia/NZ magazines, or The Work 09 Annual, email: Kim or Michael

Latest jobs

Retrieving latest jobs

House rules for commenting

Here are the ground rules for posting comments on stories: This site is a moderated blog. Comments that are seen to be more abusive than witty and/or constructive will not be posted. Obviously, we do not allow 'hate speech' or comments that are seen as a personal attack, defamatory, degrading or prejudicial to an individual or company. Overly abusive language also adds nothing to any discussion and will not be published. On occasions we will be asking people to contribute work, opinions and views on various topics - you are free to disagree, so long as you observe the above rules and remain constructive.