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Getty Images Inc. has been acquired by affiliates of the private equity firm Hellman & Friedman LLC in a transaction valued at approximately $2.4 billion, including the assumption of existing debt. For the uninitiated Getty Images is the world’s leading creator and distributor of visual content. he transaction is not subject to a financing condition and is expected to close in the second quarter of 2008.
"Our Board of Directors has thoroughly evaluated strategic alternatives for Getty Images and has determined that this outcome is in the best interests of our stockholders as it provides them with superior and certain value. Furthermore, Hellman & Friedman brings specific industry expertise and support for the vision of the Company’s management team that will benefit our employees, customers and partners," said Jonathan Klein, co-founder and chief executive officer of Getty Images.