By Deal Book – NY Times – August 15, 2012
The Carlyle Group announced on Wednesday that it had reached a deal to acquire Getty Images, the well-known distributor of photography, video and multimedia products, from Hellman & Friedman for $3.3 billion.
Carlyle will take a controlling stake in Getty Images, while the co-founder and the chairman of Getty Images, Mark H. Getty, and the Getty family will roll substantially all their ownership interests into the acquisition. Other top Getty Images executives, including the co-founder and chief executive Jonathan Klein, will also invest significant equity in the company.
“This partnership with the Carlyle Group reflects and bolsters our ongoing strategy, strong management team and the talent of our dedicated employees,” Mr. Klein said in a statement.
The company, which is based in Seattle, was founded in 1995 by Mr. Klein and Mr. Getty, an heir to the J. Paul Getty oil fortune. It possesses an archive that includes 80 million still images and illustrations.