The Carlyle Group, one of the biggest private equity firms in the world, plans to buy a controlling stake in the photo and video distributor Getty Images in a $3.3 billion deal that gives the Getty family and management a larger share of the company, reports the AP. The deal is expected to close later this year.
Getty Images Inc., which is based in Seattle, creates and distributes still images, video and multimedia products for customers to use in brochures, websites and other outlets.
The company is adding 100,000 customers every quarter, and existing customers are using more of its services, Klein said. The company is largely past a difficult transition period as its clients made the switch from print-focused products to ones that incorporate websites and mobile devices. It now has about 1.3 million customers per year, stated the AP report.