The private shareholders of Rex Features (Holdings) Limited have sold the company to Shutterstock, Inc. for US$33 million.
Rex Features is the largest independently owned photographic agency in Europe. The group has established an international reputation as a premier source of editorial images for the world’s media. Rex Features is particularly well known for celebrities, personalities, news and features and, is considered as the agency of choice for the coverage of Royal events around the world.
Founded in 2003 and headquartered in New York City, Shutterstock is a leading provider of digital imagery licensing, operating in more than 150 countries and 20 languages. “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.
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
Larry Lawson, Managing Director of Rex Features, commented: ”The team was excellent throughout the process and achieved a very positive result for the management and shareholders. I highly recommend them. Rex Features has an exciting future as part of Shutterstock, the NYSE quoted international company.”
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