By Sam Boughedda
Investing.com -- Shutterstock (NYSE:SSTK) announced Wednesday that it has acquired Pond5 for $210 million in cash.
Pond5 is an online marketplace for royalty-free and editorial videos and has customers including Netflix, Disney, NBC, BBC, Discovery Channel, and The Wall Street Journal.
The acquisition will see Shutterstock, a company that provides stock photography, footage, and music, obtain Pond5's collection of 30 million licensable video clips, 1.6 million music tracks, and 1.7 million sound effects assets.
Pond5 has built a network of 115,000 active contributors, which will now combine with Shutterstock's workflow applications to expand the distribution of their content.
"With this acquisition, we are able to offer our customers across global agency, corporate, and media channels access to one of the largest premium archival collections in the industry," commented Jamie Elden, Chief Revenue Officer at Shutterstock.
Elden added, "Shutterstock is constantly reinventing, and this acquisition brings together powerful creators and exceptional content to ensure our customers have world class video, music and editorial collections at their fingertips."
Shutterstock also stated it would be maintaining its 2022 revenue and adjusted EBITDA margin guidance but that the deal will be immediately accretive to 2022 adjusted EBITDA, even after one-time transaction-related costs.
Shutterstock shares are down 2.9% Wednesday.