London-based stock image and multimedia company Getty Images announced on Tuesday that it agreed to acquire Australian images company Photolibrary.
The terms of the transaction were not disclosed. Getty, which creates and distributes still images and video, said it’s looking to expand its global reach, benefiting from Photolibrary’s presence in India, the Middle East, and Southeast Asia.
Weil, Gotshal & Manges is advising Getty on the transaction with a team led by Silicon Valley corporate partner Kyle Krpata, along with corporate associates Andrew Nelson and Aubree Corallo. Krpata worked on Getty’s $2.4 billion sale to private equity firm Hellman & Friedman in 2008 and has handled a number of the company’s acquisitions. He represented the company on its $96 million purchase of Jupiterimages, also in 2008.
Getty is acquiring rights to visual content from the Sydney company, including the Peter Arnold and Oxford Scientific collections. Photolibrary’s content will be licensed through Getty’s current distribution platform.
The British Journal of Photography noted that this purchase is part of a spending spree by Getty, which also announced the recent purchase of Israeli image-recognition company PicScout.