Getty Images announced on Tuesday its plans to merge with rival Shutterstock in a $3.7 billion deal (approximately Rwf5.14 trillion), creating a stock image giant tailored for the artificial intelligence era. The merger is expected to face antitrust scrutiny as it redefines the licensed visual content industry. The move comes amid rising challenges from generative AI tools like MidJourney and OpenAI's DALL-E, which create images and videos from text prompts, threatening traditional content licensing models. ALSO READ: IBUKA, AERG, GAERG merge into one body Deal terms, financial structure Under the agreement, Shutterstock shareholders can choose to receive $28.80 per share in cash, 13.67 shares of Getty Images, or a mix of both. The new entity, to be called Getty Images Holdings, will continue trading publicly under the ticker “GETY.” Getty Images investors will hold a majority stake of 54.7 percent in the combined company, while Shutterstock shareholders will own 45.3 percent. The merger aims to deliver annual cost savings of $150 to $200 million over three years, strengthening the companies’ position in the evolving global digital content market. ALSO READ: Dalberg Implement, Axum merge to scale homegrown development solutions “This deal enhances our content offerings, expands event coverage, and accelerates the delivery of new technologies,” said Craig Peters, CEO of Getty Images, who will lead the merged entity. Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.
