Global image agency Shutterstock, of New York, is to acquire TurboSquid for $75m in cash. Shutterstock is well known for its photo archive but is also broader content and brand development company. TurboSquid, of New Orleans, was established in 2000 and now offers over a million 3D models plus tools to create, publish and monetise 3D models, giving Shutterstock a major position in the 3D model marketplace. The deal taps into the demand for virtual reality content across video games and e-commerce. The acquisition is said to be “immediately” earnings positive for Shutterstock.
Shutterstock buys TurboSquid
