Shutterstock, Inc. (SSTK): M&A transaction — Shutterstock completes acquisition of Giphy from Meta for $53M net cash

Shutterstock, Inc.

Shutterstock closed purchase of Giphy from Meta Platforms on June 23, 2023.
Total consideration is $53 million in net cash, inclusive of working capital.
Transaction was initially disclosed in a Form 8-K filed on May 23, 2023.
Financial statements for Giphy will be filed by amendment within 71 calendar days.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Shutterstock, Inc. completed an acquisition involving Meta Platforms, Inc. for $53 million in net cash (closed 2023-06-23).

Action: acquisition
Counterparty: Meta Platforms, Inc.
Consideration: $53 million in net cash
Closing: 2023-06-23

Exact text from the filing

has sold, and the Company has purchased, all of the issued and outstanding capital stock of Giphy. The consideration payable by the Company pursuant to the Purchase Agreement is $53 million in net cash, inclusive of working capital. The Purchase Agreement contains customary representations, warranties and covenants by the Company and Meta that are subject, in some

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Shutterstock, Inc. filing history →

Source: SEC EDGAR

accession 0001549346-23-000027

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