Abu Dhabi-based tech-focused holding company Multiplay Group has signed an agreement to invest 275 million dirhams ($75 million) in the stock photo and related content business Getty Images. The investment comes as part of the planned merger between Getty Images and CC Neuberger Principal Holdings II, a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, according to a statement.
The merger, announced in early December, entails a total equity investment of $1.3 billion, which values Getty Images at $4.8 billion. The deal is to be completed in the first half of 2022, following the listing of a newly established parent company that owns Getty Images on the New York Stock Exchange.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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