245
VCG ACQUIRES DEFINITIVE STOCK
August 12, 1999
Visual Communications Group (VCG) has announced the
acquisition of Seattle based Definitive Stock Inc. in an effort to seriously
enter the royalty-free market and to bolster their on-line technology expertise.
Definitive Stock's employees will join VCG in Seattle, which will become a base for
VCG's west coast US operations. David Roberts and Michael Carpenter, chairman/CEO and
president respectively, will join the VCG executive team to lead online business
development and implementation.
Roberts becomes Group Director of Online, and Carpenter joins as Group Director of
Business Development.
In contrast to others in the industry -- e.g. Getty Images -- both VCG and Definitive
Stock focus exclusively on the business-to-business professional graphics community.
This acquisition is expected to help VCG translate its reputation for premium images
and service onto the Internet. In addition to state-of-the-art web commerce and
distribution systems, Definitive Stock brings VCG strong royalty-free and
rights-protected image collections.
Andrew Nugee, CEO of VCG said, "We are delighted to join forces with Definitive Stock.
This deal gives an immediate value boost to the group through a best-in-class
e-commerce web platform, a fully-fledged online royalty-free product line, and a
complementary presence on the US west coast in Seattle. Most
importantly, we have been struck by the speed and proven success of the Definitive
Stock formula. The stock photography industry is changing very rapidly as it
consolidates, digitizes, and globalizes, and longer term VCG will benefit greatly by
having the Definitive Stock team on-board to help us take advantage of these exciting
developments, and consolidate our leadership position in the industry."
David Roberts, CEO of Definitive Stock, said, "This is a major step forward for both
companies. Our roots are in combining technology with photography to serve the
graphics professional
with obsessive customer service. VCG shares this passion for the
customer, and brings access to its immense global network of customers and millions of
premium images. The combination of our web platform, digital processes and online
marketing experience with VCG's sales teams, brands, superb imagery, international
distribution and client network will allow us to exploit the opportunities the
Internet offers our business, making us a worldwide contender to be the stock
photography provider-of-choice."