Getty Images snags Jupitermedia unit |
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Getty Images is boosting its content with a new acquisition.
The Seattle stock photography company is buying the online images unit of Jupitermedia Corp. for $96 million in cash. It's one of the biggest M&A deals of the year in Washington — and the first major transaction for Getty since it was acquired by private equity firm
Hellman & Friedman in July.
Getty and Jupitermedia have circled each other before. The two companies held merger talks last year, but officially called them off for unknown reasons.
Jupitermedia said today's deal will help it pay off all its bank debt.
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