Getty’s acquisition of Shutterstock could influence the future of creative assets. Learn its impact on SEO, content visibility and more.

Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'

Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.

Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.

The giant commercial photo and video providers are grappling with the emergence of artificial intelligence tools that have flooded the internet with AI-created images.

Shares in Getty Images and Shutterstock surged after the image companies agreed to merge, creating a group worth about $3.7 billion including debt. Getty stock stood about 25% higher Tuesday morning.

Getty Images (GETY) and Shutterstock (SSTK) to merge in a $3.7 billion deal, creating a visual content powerhouse with enhanced product offerings

Getty Images Holdings Inc. is exploring a merger with rival Shutterstock Inc., according to people familiar with the matter.

Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.

Alternatively, Shutterstock shareholders can choose to receive a mix of cash and Getty shares. shareholders will own about 54.7% of the combined company at closing an

Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock-image powerhouse geared for the artificial intelligence era, in a deal likely to draw antitrust scrutiny.