Brief: Shutterstock Enters Into Definitive Agreement To Acquire Envato

Shutterstock

02/05/2024 11:03

May 2 (Reuters) - Shutterstock Inc  SSTK.N :
    * SHUTTERSTOCK ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE
ENVATO,
FEATURING ENVATO ELEMENTS, THE UNLIMITED CREATIVE CONTENT
SUBSCRIPTION
    * SHUTTERSTOCK INC: $245 MILLION CASH PURCHASE OF 100% OF
ENVATO
PTY LTD AT CLOSING, AFTER CUSTOMARY WORKING CAPITAL AND OTHER
ADJUSTMENTS
    * SHUTTERSTOCK INC - UNDER DEAL, FINANCING VIA A $375
MILLION
CREDIT FACILITY
    * SHUTTERSTOCK: DEAL TO ACCELERATE PATH TO CO'S 2027
LONG-TERM
TARGETS WITH ENVATO ADDING 20% TO ANNUAL REVENUES AND 15% TO
ANNUAL ADJUSTED EBITDA

Source text for Eikon:  ID:nCNWBgXHza 
Further company coverage:  SSTK.N 

 (Reuters.Briefs@thomsonreuters.com)