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.

Tuesday after the company said it plans to merge with rival stock photography service Shuttershock. Shares of the visual content marketplace were up 83% to $4.70 after announced that it had entered into a definitive merger agreement worth $3.

Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.

Getty Images Holdings and Shutterstock agreed to combine in a deal that creates a $3.7 billion visual content company. Why it matters: The deal underscores the soaring demand for images and related content from content creators and platforms.

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.

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

Key Takeaways Getty Images and Shutterstock are teaming up in what Getty called a merger of equals.The deal between the two providers of stock images and video is designed to meet the changing needs of the creative,