Final Up to date: Could 23, 2023, 17:43 IST
(Reuters) -Inventory images repository Shutterstock Inc mentioned on Tuesday it could purchase animated-images platform Giphy Inc from Meta Platforms Inc for $53 million in money.
The transaction will likely be funded by current cash-on-hand and consists of an mental property-sharing deal that may permit 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 printed from a syndicated information company feed – Reuters)