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Shutterstock Agrees to Acquire Giphy From Meta

By
Maria Heeter
· · Source: The Information

Shutterstock has agreed to buy GIF library Giphy from Meta Platforms for $53 million in net cash, the image provider said Tuesday, putting an end to a yearslong back and forth with U.K. regulators. Meta bought Giphy in May 2020 for $400 million, including $85 million in deferred stock. But the deal fell under scrutiny by the U.K.‘s Competition and Markets Authority. It ordered Meta to hold...

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