The Bloomberg story on the deal is here. Getty is based in Seattle, Wa.
Since 1999, MediaVast had raised almost $20 million in funding from Baroda Ventures, SBE Entertainment, Time Warner, QVT Fund and others.
From the Bloomberg story:
The acquisition will add 8.5 million images including entertainers and athletes to its collection, Seattle-based Getty said today in a statement. Spokeswoman Deb Trevino declined to comment on a statement from Jupitermedia Corp., another stock- art provider, about a possible $9.60-a-share takeover by Getty.
Acquiring new sources of video and still images will help Getty contend with a slowing print publication market, a prime source of sales. By adding footage included in MediaVast’s WireImage archive, and its business of covering live events, Getty may be able to grab the lead in the growing market for stock video of celebrities, analyst Frederick Searby said…
(First posted 2/23)