Shutterstock to Acquire Giphy From Meta in $53 Million Deal
Last Updated: May 23, 2023, 17:43 IST
Meta is able to promote Giphy
The animated pictures platform Giphy Inc has been owned by Meta Platforms for a couple of years.
(Reuters) -Stock pictures repository Shutterstock Inc mentioned on Tuesday it will purchase animated-images platform Giphy Inc from Meta Platforms Inc for $53 million in money.
The transaction might be funded by present cash-on-hand and consists of an mental property-sharing deal that will enable Meta continued entry to Giphy’s content material, Shutterstock mentioned.
Shutterstock, whose shares moved up 4% premarket, made no modifications to its 2023 income and adjusted earnings margin steerage.
The deal is anticipated to shut subsequent month.
(This story has not been edited by News18 workers and is revealed from a syndicated news company feed – Reuters)
Source web site: www.news18.com
