PA Media Group has bought stock images business Alamy for an undisclosed fee, the company has announced.
Alamy has almost 200 million images with 100,000 customers in more than 150 countries and the deal sees PA Media enter the stock imagery market for the first time.
It also supports PA’s long-term strategy to diversify its business and consolidate its position as the UK’s leading provider of cross-platform news, sport and entertainment data, content and services, the company added.
This acquisition will further strengthen the financial performance of the company and help secure the future of our core news agency businessClive Marshall, PA Media Group
Clive Marshall, chief executive of PA Media Group, said: “This transformational acquisition will significantly increase our customer base and provide the PA Media Group with a strong presence in the international market for the first time.
“Alamy has created a fantastic ecosystem of content creators and content users around a superior e-commerce platform. The acquisition adds real scale and diversity to PA Media Group’s photo services.
“As a result, customers will have access to a wider, richer image portfolio which combines great editorial and stock imagery, accessible through a global platform.
“In addition, this acquisition will further strengthen the financial performance of the company and help secure the future of our core news agency business.”
Alamy will compliment PA Media’s editorial picture syndication business, PA Images, whose archive charts more than 100 years of British history, along with royal, entertainment, sport and news photography.
James West, co-founder of Alamy, who launched the business 20 years ago, said: “PA Media Group is a natural home for Alamy. As well as having one of the UK’s most comprehensive photo archives, PA shares our ethos of integrity and quality, and has an excellent reputation built over 150 years.
“Alamy can look forward to a fantastic future as part of the PA Media Group.”