Stock photo giant Shutterstock is buying WebDAM, maker of brand management and marketing tools, to expand its enterprise footprint.
As detailed in the company’s press release, this deal will allow Shutterstock to “deepen its relationship with marketing and creative teams.” Shutterstock says the WebDAM brand will live on following the acquisition.
Shutterstock founder and chief executive Jon Oringer clarified the purpose of this deal, stating that this acquisition will serve Shutterstock’s relationships “with large organizations.”
The terms of the deal were not disclosed.
Based in San Mateo, Calif., WebDAM has 25 employees and is not purely an enterprise play: The company also has customers in higher education and government.