Global alternative asset manager The Carlyle Group has agreed to acquire Getty Images for $3.3 billion.
According to The Carlyle Group, the acquisition will not give it 100 percent ownership in the company. Instead, the asset manager has bought out Getty Images' major owner, private equity firm Hellman & Friedman, giving it a "controlling stake" in the company.
Getty Images co-founder and chairman Mark Getty, along with his family and co-founder and CEO Jonathan Klein, have rolled "substantially all" of their equity into the transaction, effectively making them Carlyle's partners.
Getty Images has become a popular photograph repository. The company also offers videos and music for customers to buy.
Carlyle doesn't say what it has planned for Getty Images, but claims that it'll do what it can to "take Getty Images to the next stage of product innovation and global growth."
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via CNET http://feedproxy.google.com/~r/cnet/NnTv/~3/MbpblaTLeR0/
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