Shutterstock, Inc. has signed a definitive agreement to acquire
Flashstock Technology, Inc., a Toronto based company that enables the efficient creation of custom visual content through its proprietary platform, for approximately $50 million cash. Flashstock has a fast growing customer base of enterprise marketers seeking on-brand content to feed the ever growing visual demands of multiple marketing channels. By integrating Flashstock into its product offerings, Shutterstock will be able to offer a high-quality custom content product to its 1.7 million customers. The transaction is expected to close in July 2017.