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August 15, 2012 03:42 pm GMT
Global alternative asset manager The Carlyle Group, along with Getty Images' current management and founders are joining forces to acquire the stock photography giant from Hellman & Friedman for a hefty $3.3 billion. Of note, Hellman & Friedman paid $2.4 billion when it bought a majority stake in Getty Images in 2004.As a result, according to the release, Carlyle will acquire a controlling stake in Getty Images, while Getty Images Co-Founder and Chairman, Mark Getty, and the Getty family, will roll "substantially all of their ownership interests" into the transaction. Getty Images management, including Co-Founder and CEO, Jonathan Klein, will also invest "significant equity' in the company.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/_obTgZ4n9CU/
The Carlyle Group, Current Management To Acquire Stock Photo Giant Getty Images For $3.3 Billion
Global alternative asset manager The Carlyle Group, along with Getty Images' current management and founders are joining forces to acquire the stock photography giant from Hellman & Friedman for a hefty $3.3 billion. Of note, Hellman & Friedman paid $2.4 billion when it bought a majority stake in Getty Images in 2004.As a result, according to the release, Carlyle will acquire a controlling stake in Getty Images, while Getty Images Co-Founder and Chairman, Mark Getty, and the Getty family, will roll "substantially all of their ownership interests" into the transaction. Getty Images management, including Co-Founder and CEO, Jonathan Klein, will also invest "significant equity' in the company.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/_obTgZ4n9CU/
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