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GETTY ACQUIRES ITALIAN AGENT
May 2, 2006
Getty Images, Inc. has acquired Laura Ronchi, S.p.A., its largest master delegate and the leading provider of visual content in Italy. No information was supplied as to the price paid for the acquisition.
As a master delegate, Laura Ronchi, S.p.A. has been the primary
distributor of Getty Images content to the Italian market since 1995, and has
been a key contributor to Getty Images' success in that fast-growing region.
Laura Ronchi, S.p.A. distributes Getty Images rights-managed and royalty-free
content, as well as its editorial imagery, archival imagery and film.
"This acquisition helps us accelerate our reach into non-English speaking
markets, which is a key focus area for our business in 2006," said Bo
Olofsson, Senior Vice President of Sales for Getty Images. "Growth in the
Italian market and the overall size of the opportunity strongly support this
investment. By replicating our proven direct model and working closer with
the Laura Ronchi, S.p.A. team, we plan to enrich the growth prospects for all
our product and service lines in the region."
Following the acquisition, Laura Ronchi, who founded her business in 1987,
will continue to lead the Milan-based business as Vice President of Sales
Italy, reporting to Bo Olofsson.