Sam Boughedda

Investing.com — Shutterstock (NYSE:) announced Wednesday that it has acquired Pond5 for $210 million in cash.

Pond5 provides royalty-free and edited videos online. It has clients such as Netflix, Disney, BBC, Discovery Channel and The Wall Street Journal. 

Shutterstock will acquire Pond5’s 30 million video clips licensable, 1.6million music tracks and 1.7million sound effects assets.

Pond5 now has 115,000 contributors. This network will be combined with Shutterstock workflow apps to increase distribution.

Jamie Elden is Chief Revenue Officer of Shutterstock. 

Elden said, “Shutterstock’s constantly innovating, and this acquisition brings together strong creators and extraordinary content to ensure that our customers have access to world-class video, music, and editorial collections.”

Shutterstock said it would maintain 2022’s revenue and adjusted EBITDA Margin guidance, however that the deal will immediately add to 2022’s adjusted EBITDA. This is even after accounting for one-time transaction costs.

Shares of Shutterstock fell 2.9% on Wednesday.