The Carlyle Group and Getty Images Management Complete the Acquisition of Getty Images
WASHINGTON and SEATTLE, Oct. 18, 2012 /PRNewswire/ -- Getty Images, a global creator and distributor of still imagery, video and multimedia products today 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, has invested significant equity in the company.
"We are pleased to announce the completion of this transaction in partnership with The Carlyle Group," said Jonathan Klein, Co-Founder and Chief Executive Officer of Getty Images. "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.
About Getty Images
Getty Images is a leading creator and distributor of still imagery, video and multimedia products, as well as a recognized provider of other forms of premium digital content, including music. Getty Images serves business customers in more than 100 countries and is the first place creative and media professionals turn to discover, purchase and manage images and other digital content. Its award-winning photographers and imagery help customers produce inspiring work which appears every day in the world's most influential newspapers, magazines, advertising campaigns, films, television programs, books and Web sites. Visit Getty Images at www.gettyimages.com to learn more about how the company is advancing the unique role of digital media in communications and business, and enabling creative ideas to come to life. Additional information on how Getty Images inspires and powers communications can be found on The Getty Images Blog at blog.gettyimages.com as well as on Facebook at www.facebook.com/gettyimages and Twitter at www.twitter.com/gettyimages.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $156 billion of assets under management across 99 funds and 63 fund of fund vehicles as of June 30, 2012. Carlyle's purpose is to invest wisely and create value. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,300 people in 32 offices across six continents.
The Carlyle Group
SOURCE Getty Images