Shutterstock to Buy Giphy From Meta Platforms for $53 Million
23 Maio 2023 - 8:50AM
Dow Jones News
By Colin Kellaher
Shutterstock on Tuesday said it agreed to buy social-media
animated-images company Giphy from Facebook parent Meta Platforms
for $53 million in net cash.
Shutterstock, a New York provider of licensed content, said the
deal adds a mobile content platform with 1.7 billion daily users
and global partners that including Instagram, Facebook, WhatsApp,
Microsoft, TikTok, Samsung, Twitter, Slack and Discord.
Meta last year said it would sell Giphy after the U.K.'s top
competition authority affirmed an earlier order to undo its 2020
acquisition of the company for $315 million.
Shutterstock said it plans to fund the deal, slated to close in
June, with cash on hand and its revolving credit facility, adding
that Meta is entering into an API agreement to ensure continued
access to Giphy's content across its platform.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 23, 2023 07:35 ET (11:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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