Tech-focused holding company Multiplay Group to invest $ 75 million in stock photo and related content business Getty Images

0
40
Tech-focused holding company Multiplay Group to invest $ 75 million in stock photo and related content business Getty Images
Tech-focused holding company Multiplay Group to invest $ 75 million in stock photo and related content business Getty Images

The investment of the tech-focused holding company comes as part of the planned merger between Getty Images and CC Neuberger Principal Holdings II, a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, according to a statement

Abu Dhabi-based Multiplay Group, a tech-focused holding company has signed an agreement to invest 275 million AED ($ 75 million) in the stock photo and related content business Getty Images.

The investment of the tech-focused holding company comes as part of the planned merger between Getty Images and CC Neuberger Principal Holdings II, a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, according to a statement.

Announced in early December, the merger entails a total equity investment of $ 1.3 billion, which values Getty Images at $ 4.8 billion.

Following the listing of a newly established parent company that owns Getty Images on the New York Stock Exchange, the deal is to be completed in the first half of 2022.

Also readCIO News interviews Shri Wangki Lowang, Minister (IT) of Arunachal Pradesh

Do FollowCIO News LinkedIn Account | CIO News Facebook | CIO News Youtube | CIO News Twitter

About us:

CIO News, a proprietary of Mercadeo, produces award-winning content and resources for IT leaders across any industry through print articles and recorded video interviews on topics in the technology sector such as Digital Transformation, Artificial Intelligence (AI), Machine Learning (ML), Cloud, Robotics, Cyber-security, Data, Analytics, SOC, SASE, among other technology topics.