ShutterStock and Getty Images have agreed to a merger to combat the disruption caused by generative AI. The deal is set to close in the second half of 2023.
In a strategic move to address the evolving landscape of artificial intelligence (AI), ShutterStock (NYSE: SSTK) and Getty Images (GETY) have agreed to a merger, set to close in the second half of 2023 [1]. This merger aims to bolster their collective capabilities in combating the disruptive effects of generative AI.
The deal, which is expected to close by the end of the year, comes amidst a surge in AI-driven content creation and the growing need for robust cybersecurity measures. The integration of ShutterStock and Getty Images is anticipated to enhance their offerings in AI-generated content, providing a more comprehensive solution for businesses seeking high-quality, AI-augmented visuals.
The merger follows a trend of consolidation in the AI and cybersecurity sectors, as companies seek to leverage advanced technologies to stay competitive. For instance, Israeli cybersecurity company Cato Networks acquired AI security startup Aim Security to integrate advanced AI capabilities into its SASE platform [2]. Similarly, Palo Alto Networks made a landmark acquisition of CyberArk for $25 billion to deepen its identity security and AI-driven security operations [2].
The generative AI cybersecurity market is projected to grow at a significant rate, with a compound annual growth rate (CAGR) of 41.32% between 2025 and 2032 [2]. This growth is driven by the increasing adoption of AI in various sectors, including banking, healthcare, and government, which require robust cybersecurity measures to protect sensitive data.
The merger of ShutterStock and Getty Images is likely to have a positive impact on the generative AI cybersecurity market by enhancing the companies' ability to provide secure and innovative AI-driven content solutions. As AI continues to disrupt traditional industries, the demand for advanced cybersecurity measures is expected to rise, creating new opportunities for growth and innovation.
References:
[1] https://seekingalpha.com/article/4819511-shutterstock-generative-ai-disruptors-have-caused-deep-merger-arbitrage
[2] https://www.openpr.com/news/4170359/generative-ai-cybersecurity-market-size-technology-industry
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