Getty Images Holdings (GETY) – Shutterstock Merger Inches Closer

Getty Images Holdings, Inc. (NYSE:GETY) is one of the penny stocks that will skyrocket. On June 10, the company received a significant boost on its proposed merger with Shutterstock, a leading provider of high-quality creative content for transformative brands.

Shutterstock’s stockholders approved the adoption of the proposed merger, with approximately 82% of the issued and outstanding shares voting in favor. The approval paves the way for the merger of the two companies, which is expected to result in a combined company capable of meeting the ever-changing needs of customers through investments in content creation, event coverage, and technological innovation.

“Our complementary strengths will allow us to better serve customers while also delivering exceptional value to our partners, contributors and stockholders in a fast evolving and competitive environment,” said Paul Hennessy, Shutterstock’s Chief Executive Officer.

The merger between Getty Images and Shutterstock is expected to close in the second half of the year, subject to regulatory approvals.

Getty Images Holdings, Inc. (NYSE:GETY) is a communication services company that provides creative and editorial visual content solutions. It offers creative content, including royalty-free photos, illustrations, vectors, videos, and generative AI services, as well as editorial content, which consists of photos and videos.

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Disclosure: None. This article is originally published at Insider Monkey.