Staff Redaksi
Shutterstock is entering into a definitive agreement to acquire Envato on May 2, 2024. This means that the two companies have signed a final agreement outlining the terms of the acquisition.
The terms of Shutterstock’s acquisition of Envato involve a $245 million cash purchase of 100% of Envato Pty Ltd at closing, after customary working capital and other adjustments.
Here’s a breakdown of the key details:
- Cash Purchase: Shutterstock will pay Envato entirely in cash, not with any stocks or shares.
- Total Price: The total cost of the acquisition is $245 million.
- Closing Adjustments: There might be some adjustments to the final price based on Envato’s working capital and other financial factors at the closing date.
This acquisition is expected to close in the third quarter of 2024, subject to standard closing conditions.
We’re thrilled to share some exciting news with you. Envato has entered into a definitive agreement to be acquired by Shutterstock, a global leader in creative content. This agreement is subject to customary conditions and is expected to close in the third quarter of this calendar year.
We see this as a pivotal moment in Envato’s journey and are excited for the future. We have confidence in the alignment of values and the strong strategic fit that underpin this expected union between Envato and Shutterstock. We wanted to take a moment to update you about what this means for our partnership going forward.
First and foremost, we want to emphasize that our commitment to you remains unwavering. Envato’s mission remains the same — helping creatives make their mark globally. The services and support you have come to expect from us, and the relationship we have with you, will remain.
We will keep you informed of any important updates that come with this transition.
We are incredibly grateful for your continued partnership and support. We are genuinely excited about the possibilities this acquisition brings and look forward to better serving the creative community together.
