Jupitermedia has inked an agreement to acquire Creatas L.L.C., the parent company of Dynamic Graphics Inc. and PictureQuest Acquisition Company L.L.C., along with Dynamic Graphics Group (consisting of its stock photo and related graphics brands), for $38,175,000 and 1,483,073 restricted shares of Jupitermedia common stock.
"Acquiring Dynamic Graphics Group makes Jupitermedia the third largest company in the world in the field of selling and distributing stock photography, stock footage and other imagery," Alan M. Meckler, chairman and CEO of Darien, Conn.-based Jupitermedia Corp., said in a statement.
"Dynamic Graphics Creatas, PictureQuest and Liquid Library brands are widely known worldwide and provide us with thriving sales operations in the United States, the U.K., Germany and Australia," Meckler said.
"In addition, Dynamic Graphics Group is one of the leading publishers of magazines and organizers of seminars and tradeshows for stock photo and graphics professionals."
"We will make good use of these properties to help distribute and cross-promote our existing JupiterImages brands. We expect that this acquisition will be accretive to our earnings," Meckler added.
The Peoria, Ill.-based Dynamic Graphics Group distributes royalty-free content (photography, footage, illustration, typography and other design tools) through its Creatas brand.