Wednesday, June 20, 2007

Getty Images Buys Pump Audio

Seattle-based Getty Images said today that it has acquired Pump Audio, a provider of independent music for content creators. The deal was worth approximately $42M. The acquisition put the firm into the commercial music licensing business. Pump Audio's services are used by advertising, corporate customers, and media for adding music to their film, video, broadcast, advertising and other projects. Getty Images said that it believes that bringing its digital distribution, e-commerce expertise, and customer relationships will have a positive impact on the music industry.