Arab Today, arab today equity firm carlyle completes deal for getty images
Last Updated : GMT 14:17:51
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Equity firm Carlyle completes deal for Getty Images

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Arab Today, arab today Equity firm Carlyle completes deal for Getty Images

New York - AFP

A private investment group Thursday completed its deal to take over the photography agency Getty Images for $3.3 billion. The Carlyle Group said it has acquired a controlling stake in Getty, a major producer and distributor of photos, videos and multimedia products. \"We are pleased to announce the completion of this transaction in partnership with The Carlyle Group,\" Jonathan Klein, co-founder and chief executive of Getty Images, said in a statement. \"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.\" The statement said Getty Images co-founder and chairman Mark Getty and the Getty family \"have rolled substantially all of their ownership interests into the acquisition\" and Klein \"has invested significant equity in the company.\" \"We look forward to partnering with Getty Images\' experienced and talented management team in expanding the company\'s global footprint,\" said Eliot Merrill, managing director of Carlyle. The investment firm Hellman & Friedman acquired Getty in 2008. Agence France-Presse and Getty Images have had a distribution partnership since 2003.

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Arab Today, arab today equity firm carlyle completes deal for getty images Arab Today, arab today equity firm carlyle completes deal for getty images

 



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