Shutterstock, a global provider of commercial digital imagery and music, has entered into a definitive agreement to acquire Rex Features, the largest independently owned photographic press agency in Europe, for $33 million.
Rex offers media companies and advertisers images and videos that capture the world around us, including a live feed of tightly edited celebrity, entertainment, sports and news images and videos, along with access to a multi-decade archive of iconic images. Shutterstock stated that with Rex’s editorial expertise and Shutterstock’s technical prowess, the combined companies plan to bring a comprehensive offering to market across both editorial and commercial content.
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“The acquisition of Rex Features marks our substantive entry into editorial imagery — a new market for Shutterstock with significant potential and many opportunities to better serve global media companies, ” said Jon Oringer, Shutterstock founder and CEO.
With offices in London and Los Angeles, Rex serves thousands of customers, including many of the world’s leading magazines, websites, newspapers, agencies, and broadcasters.
“Given Shutterstock’s volume leadership in commercial imagery and Rex’s history of meeting customers’ editorial needs, we are excited about what Rex and Shutterstock can accomplish together, ” said Larry Lawson, Managing Director of Rex Features.
Shutterstock, Inc. is a global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 70, 000 contributors, Shutterstock adds tens of thousands of images each week, and currently has more than 47 million images and 2 million video clips available.
Headquartered in New York City, with offices in Amsterdam, Berlin, Chicago, Denver, London, Paris and San Francisco, Shutterstock has customers in more than 150 countries. The company also owns Bigstock, a value-oriented stock media agency; Offset, a high-end image collection; Skillfeed, an online marketplace for learning; and WebDAM, a cloud-based digital asset management service for businesses.
Rex Features boasts an international reputation as one of the world’s leading independent photographic press agencies and picture libraries as well as a premier source of images and features for the world’s media – be it personalities, news and features, sport, travel, business, animal, humour, lifestyle, fashion, music, historical or creative stock images.
Rex Features has offices in London and Los Angeles, and partner agencies in over 40 countries.