M&A · Tech · Services-Computer Processing & Data Preparation
Getty Images Holdings, Inc. to acquire Shutterstock, Inc.
Announced Jan 7, 2025 · Terminated Jul 9, 2026
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock
Transaction
- Acquirer
- Getty Images Holdings, Inc. (GETY)
- Target
- Shutterstock, Inc. (SSTK)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Terminated Jul 9, 2026
Deal protections
- Break fee (target pays)
- $32.7M
- Reverse fee (buyer pays)
- $40.0M
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Berenson & Company, JPMorgan
- To the target
- Allen & Company
- Allen & Company fee
- $4.5M
Sector context · Tech
- Comparable deals
- 60 in the prior 24 months
- Premium
- Sector median 37.0%
- EV / Adj. EBITDA
- Sector median 16.3x
- Break fee
- Sector median 3.1%
Timeline
- AnnouncedJan 7, 2025
- Proxy filedApr 30, 2025
- Definitive proxyApr 30, 2025
- Shareholder voteJun 10, 2025
- TerminatedJul 9, 2026
Valuation · fairness opinions
Trading comparables$34.70$45.92
Trading comparables$34.20$46.49
Trading comparables$2.03$3.11
Trading comparables$1.90$3.03
Discounted cash flow$32.91$41.56
Implied value per Shutterstock, Inc. share by analysis, from Allen & Company · DCF discount rate 9%–11%.