Getty Images bought by The Carlyle Group for $3.3bn
Private equity giant The Carlyle Group has acquired Getty Images from Hellman & Friedman for $3.3bn.
Carlyle will acquire a controlling stake in the photo and video distributor while Getty Images co-founder and chairman Mark Getty and the Getty family will roll substantially all of their ownership interests into the deal.
Getty Images management, including co-founder and chief executive officer Jonathan Klein, will also invest significant equity in the company.
"This partnership with The Carlyle Group reflects and bolsters our ongoing strategy, strong management team and the talent of our dedicated employees," Klein said.
"We are delighted to collaborate with Carlyle, with its formidable pedigree and success, and take the business into its next phase of development and growth."
Eliot Merrill, managing director of The Carlyle Group, added: "We look forward to partnering with Mark Getty, Jonathan Klein and the talented Getty Images management team. We will harness Carlyle's financial resources and global network to help take Getty Images to the next stage of product innovation and global growth.”
J.P. Morgan, Barclays, Credit Suisse, Goldman Sachs and RBC Capital Markets have provided committed debt financing for the transaction.
The deal is subject to regulatory approval.