RIYADH: Abu Dhabi-based tech-focused holding company Multiplay Group has signed an agreement to invest 275 million dirhams ($75 million) in the stock photo and related content business Getty Images.
The investment comes as part of the planned merger between Getty Images and CC Neuberger Principal Holdings II, a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, according to a statement.
The merger, announced in early December, entails a total equity investment of $1.3 billion, which values Getty Images at $4.8 billion.
The deal is to be completed in the first half of 2022, following the listing of a newly established parent company that owns Getty Images on the New York Stock Exchange.
