Shutterstock (SSTK) Completes Acquisition of Envato

Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering high-quality creative content for transformative brands, digital media and marketing companies, completed its previously announced acquisition of Envato Pty Ltd. ("Envato"), a leader in digital creative assets and templates.

Strategic Highlights:

• Complements Shutterstock's existing offering with Envato Elements, a leading unlimited multi-asset subscription offering
• Expands Shutterstock's reach within faster growing audiences such as freelancers, hobbyists, small businesses and agencies
• Adds 650k subscribers, more than doubling Shutterstock's subscriber base to 1.15 million
• Increases Shutterstock's Content revenue from video, audio, graphics, fonts and templates
• Bolsters Shutterstock's content library with 10 million images, 6 million videos, 1 million audio clips, 0.5 million templates and 0.2 million graphics & fonts
• Further diversifies Shutterstock into new content types including code & web themes, product mock-ups, fonts and templates (e.g. Slides, PowerPoint, Keynote, WordPress, video, designs for social posts, gaming, podcasts and print-on-demand)
• Deal completion coincides with the launch of Envato's new visual brand identity, currently in a phased rollout across the site, which marks a significant milestone in the company's evolution and commitment to creatives

You May Also Be Interested In

• UGI shares spike on reported KKR bid for the company
• Curaleaf launches hostile takeover bid for Aurora Cannabis at $4/share
• Green Circle Decarbonize expands share capital and creates dual-class structure