Thinkstock, a provider of photo imagery and video footage, is being sold to New York-based Jupitermedia in a deal worth more than $4 million.
Jupitermedia (Nasdaq: JUPM) also agreed to include 50,000 shares of stock (valued at $564,000 based on Thursday’s closing price) and to assume some debt.
Thinkstock was founded in 1999.
“The addition of Thinkstock furthers Jupitermedia’s position as one of the largest organizations worldwide in the business of selling stock images and Thinkstock Footage enables us to enter the rapidly growing business of selling video footage online,” said Alan Meckler, chairman and CEO of Jupitermedia, in a statement. “The acquisition adds over 25,000 wholly-owned digitized stock images and over 4,000 wholly-owned stock video clips to our image library.”
Jupitermedia operates more than 150 web sites and more than 150 e-mail newsletters with 20 million readers.
Thinkstock provides royalty-free digital and video images.
The company was founded by Ron Chapple, a photographer. Clients include Forbes, Microsoft, AT&T, Bank of America, The Discovery Channel, United Airlines and Timex.
“We are pleased that Ron Chapple, renowned photographer and founder of Thinkstock, will continue to provide world-class imagery for Thinkstock and JupiterImages,” Meckler said. “