Press photo agencies ddp in Germany and ABACAPRESS in France have agreed a new strategic partnership -‘join forces to increase photo production for their core business, and to develop innovative services for new markets and corporate brands.’
Having worked together since 2011 ddp has now strengthened the relationship acquiring a shareholding in ABACA.
ABACAPRESS CEO, Jean-Michel Psaila told PAN: “The two companies and the two teams share a common DNA regarding production and distribution of photo and video content. With more financial strength and with new team members, ABACA will increase momentum for further growth in France and for the development of innovative services for both traditional and new markets.”
ddp co-founder Ulf Schmidt-Funke told PAN: “Acquiring an equity stake in ABACAPRESS is a significant milestone for our strategic partnership. Newswire services and global picture providers like Getty Images, Shutterstock, VCG or Adobe are already dominating the picture market in certain regions. By initiating a network of leading independent European agencies that are reliable, flexible and – most of all – produce relevant visual content, we are going to establish a very attractive alternative for traditional media clients and corporate brands in Europe.”