Shutterstock and Getty Images, two of the world’s leading stock content platforms, announced a major merger early in the new year. According to a statement made by Shutterstock CEO Paul Hennessy, the merger will increase the content, technology and service capabilities of both companies and provide customers with a broader range of high-quality, ethically sourced licensable content.

Shutterstock’s brands TurboSquid, Pond5, PremiumBeat, GIPHY and Envato will also be directly impacted by the merger. Hennessy said the merger will increase its capacity to deliver innovative solutions to small and large customers globally and provide customers with more powerful tools for storytelling.

Shutterstock and Getty Images are merging, but the companies will continue to operate independently for now

While it is stated that the merger process will take time to complete, it is said that Shutterstock and Getty Images will continue to operate as independent companies for the time being. In this process, there will be no interruption in the existing services offered to customers.

‘Your existing Shutterstock services and solutions will continue uninterrupted. We are committed to delivering the same quality and value to our customers,’ Hennessy said. It was also stated that developments will be shared regularly in the later stages of the process.