New York—Jupitermedia Corp. Monday announced it has signed a definitive agreement to acquire Creatas, the parent company of Dynamic Graphics and PictureQuest Acquisition Co., for $38.2 million in cash and 1.5 million restricted shares of Jupitermedia common stock.
The deal includes the stock photo and related graphics brands that are part of the Dynamic Graphics Group.
"Acquiring Dynamic Graphics Group makes Jupitermedia the third largest company in the world in the field of selling and distributing stock photography, stock footage and other imagery," said Alan M. Meckler, Jupitermedia chairman-CEO, in a statement. "In addition, Dynamic Graphics Group is one of the leading publishers of magazines and organizers of seminars and tradeshows for stock photo and graphics professionals."
The deal, which is subject to regulatory approval and closing conditions, is expected to close in March.