Getty Images has acquired online image tracking company PicScout
UPDATE: Technology site Israel21.com is reporting Getty Pays $20 million For PicScout
They say: “This acquisition will build and grow upon Getty Images’ existing range of products and services, enabling Getty Images to amplify its digital content licensing expertise and leverage PicScout’s technology in developing new image identification tools for customers. Getty Images will invest in PicScout’s technology and continue to work across the entire image industry, to improve and expand protection of Intellectual Property, thus ensuring a stronger overall content licensing industry.
“As the access to digital imagery becomes even easier, the ability to safeguard and manage creators’ content has become more critical than ever,’ said Jonathan Klein, co-founder and CEO of Getty Images. ‘This acquisition will enable us to bring a vital service to a greater number of imagery agencies and companies around the world and make it possible for them to successfully manage the licensing of the content they represent.”
Offir Gutelzon, co-founder and CEO of PicScout added, ‘With the vast expansion of digital devices and platforms, technology solutions are required to ensure every image gets its credit, which enables a connection to licensors wherever the images are used online. The acquisition will make it possible for PicScout to accelerate its position as a market innovator and as one of the world’s largest indexes of owner-identified images. It will allow PicScout to continue its rapid support of content owners and content users, who seek an integrated solution for image identification and use.’
The PicScout brand will remain, with Getty Images’ global distribution channels and platforms increasing international customers’ access to PicScout’s products and services.
Why Buy? PAN’s guess is Getty spend a fortune on PicScout services already so bought the technology, it looks good for contributing photographers and collections as they now have one of the best image monitoring systems.