Getty Images to go public again in $4.8bn Spac deal

Visual content creator Getty Images said on Friday that it will become a publicly-listed company again in a $4.8bn Spac merger with CC Capital and Neuberger Berman.

Upon closing of the deal, a newly-formed parent company of Getty Images will become a publicly-traded company, and its common stock will be listed on the New York Stock Exchange.

Craig Peters, who joined the company in 2007 and has served as chief executive since 2019, will continue to lead the business post-transaction.

Founded in 1995, Getty was taken private in 2008 by buyout firm Hellman & Friedman in a $2.4bn deal.

Co-founder and chairman Mark Getty said: "Today’s transaction is another milestone in the transformation of Getty Images. As a public company Getty Images will be able to aggressively invest in more product and service solutions to address the needs of all of our customers, from large corporates and agencies to small businesses and individuals.

"This will cement and enhance our position as the first-place people turn to discover, purchase, and share powerful visual content from the world’s best photographers and videographers."