Carlyle Group buys Getty Images for USD3.3bn

Private equity firm Carlyle Group is buying picture agency Getty Images from Hellman & Friedman in a deal worth at USD3.3bn. Carlyle will take a controlling stake in the company, while the Getty family, which founded in the agency in 1995, will increase their stake from about 30% to just less than half. The Seattle-based agency distributes stock photographs, video footage and digital images to businesses and consumers around the world. Getty says it plans to further expand into Asia and Latin America and launch several new products. The deal is expected to close later this year.