Shutterstock, Inc. acquired Backgrid USA, Inc. and Backgrid London LTD for approximately $20 million.
February 31, 2024
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Shutterstock, Inc. (NYSE:SSTK) acquired Backgrid USA, Inc. and Backgrid London LTD on February 1, 2024. Mishcon De Reya LLP acted as legal advisor to Backgrid USA, Inc. and Backgrid London LTD.
Shutterstock, Inc. (NYSE:SSTK) completed the acquisition of Backgrid USA, Inc. and Backgrid London LTD for approximately $20 million on February 1, 2024. The purchase consideration is subject to customary working capital adjustments. The purchase price was paid with existing cash on hand.
Shutterstock, Inc. (Shutterstock) is a provider of a global creative platform for connecting brands and businesses to quality content. The Companyâs offerings are distributed to customers in various ranges of brands, including Shutterstock, Pond5, TurboSquid, PicMonkey, PremiumBeat, Splash News, Bigstock, and Offset. Pond5 is a video-first content marketplace which expands the Companyâs content offerings across footage, image, and music. TurboSquid operates a marketplace that offers more than one million 3D models and a 2-dimensional (2D) marketplace derived from 3D objects. PicMonkey is an online graphic design and image editing platform. PremiumBeat offers music tracks and provides producers, filmmakers, and marketers the ability to search handpicked production music from the composers. Splash News provides editorial image and video content across celebrity. Its Shutterstock brand includes various content types and offerings, such as image, footage, music and editorial.
SHUTTERSTOCK, INC. 
