Cahill Represents Shutterstock, Inc. in Acquisition of Pond5 and New Financing
Cahill advised Shutterstock, Inc., a leading global creative platform for transformative brands and media companies, in its acquisition of Pond5, the world's largest video-first content marketplace for filmmakers, media organizations, and marketers worldwide with customers including Netflix, Disney, NBC, BBC, Discovery Channel and The Wall Street Journal. With this acquisition, Shutterstock will solidify their position as the premium destination for its global customer community for unique access to editorial content, video footage and music. The acquisition is valued at approximately $210 million. As part of the completed transaction, Shutterstock will acquire Pond5’s library of 1.6 million music tracks and 1.7 million sound effects assets.
Cahill also represented Shutterstock in connection with a $100 million revolving credit facility.
The Cahill team representing Shutterstock was led by corporate partners Kimberly C. Petillo-Décossard, Timothy B. Howell and Ross Sturman, associates Joseph F. Rosati, Taegan M. Clarke, Thomas Coombs and Tina M. Davis, and Kai Glick; antitrust partner Elai Katz and counsel Lauren Rackow; tax partner Craig M. Horowitz and associate Samir Kurani; and executive compensation partner Glenn J. Waldrip and counsel Mark J. Gelman.