PA Media Group has acquired the stock image provider Alamy, as part of a diversification drive.
The takeover marks the first time PA Media Group has delved into the stock image sector - a move it hopes will cement its position as a provider of news, sport and entertainment data, content and services.
On the acquisition of the stock image company, Clive Marshall, chief executive of PA Media Group said: “This transformational acquisition will significantly increase our customer base and provide the PA Media Group with a strong presence in the international market for the first time.
“Alamy has created a fantastic ecosystem of content creators and content users around a superior e-commerce platform," he continued. "The acquisition adds real scale and diversity to PA Media Group’s photo services. As a result, customers will have access to a wider, richer image portfolio which combines great editorial and stock imagery, accessible through a global platform.
“In addition, this acquisition will further strengthen the financial performance of the company and help secure the future of our core news agency business.”
Since its formation 20 years ago Alamy has built an archive of 200 million photographs, graphics and panoramas, serving 100,000 clients across the publishing, design, advertising and broadcast spheres.
This archive will operate alongside PA Images, whose own repository of visuals stretches back over a century capturing key moments from the past.
James West, the co-founder of Alamy, said: “PA Media Group is a natural home for Alamy. As well as having one of the UK’s most comprehensive photo archives, PA shares our ethos of integrity and quality, and has an excellent reputation built over 150 years.”