Acquisition of Definitive Stock Boosts Value At Visual Communications Group.LONDON--(BUSINESS WIRE)--Aug. 6, 1999-- Demonstrating its commitment to Internet commerce, the royalty-free market and their graphics professional clients, Visual Communications Group (VCG VCG vectorcardiogram. VCG vectorcardiogram. ) today announced the acquisition of Seattle, Wash.-based Definitive Stock Inc, a fast growing, technology-savvy, online stock photography agency. The acquisition is effective immediately. Definitive Stock's employees will join VCG in Seattle, which will become a base for VCG's west coast US operations. David Roberts There are several people named David Roberts:
In contrast to others in the industry -- e.g. Getty Images (Nasdaq:GETY) -- both VCG and Definitive Stock focus exclusively on the business-to-business graphics professional community. The Internet is now revolutionizing the industry and this acquisition will help VCG translate its reputation for premium images and service onto the Internet. And 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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 Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , 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 On board usually means to be traveling on some vehicle. For example, Baby On Board. Compare with overboard. Metaphorically, the term on-board is often used to refer to some piece of technology that is integrated in a moving vehicle, for example: 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 ob·ses·sive adj. Of, characteristic of, or causing an obsession. ob·ses  sive n. 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." Charles Gregson Charles Gregson (born June 7, 1947) is a British businessman. A graduate of Trinity Hall, Cambridge University, he has an MA in Law and is a qualified solicitor. He joined MAI plc in 1974 as group solicitor and became a director of that company in 1984. , executive director of United News & Media plc, responsible for Visual Communications Group said: "VCG's acquisition of Definitive Stock is a major step in United's strategy of establishing leading positions in fast growing business-to-business markets. The two companies complement each other well and together can quickly roll out a competitive platform that will capture the rapid growth in online stock photography sales." Editors Notes The Visual Communications Group (VCG) is a division of United News & Media, a London FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. 100 media company (Nasdaq:UNEWY). It is the world's second largest stock photography business, licensing images in over 60 countries, either direct, through owned subsidiaries or through a network of distribution partnerships. Headquartered in London, VCG owns market-leading stock photography brands including FPG FPG Fasting plasma glucose, see there , the Telegraph Colour Library (TCL See Tcl/Tk. Tcl - Tool Command Language ), Bavaria-Bildagentur, Pix, Planet Earth Pictures, Colorific col·or·if·ic adj. Producing or imparting color. ! and Giraudon. Definitive Stock Inc was co-founded in 1998 by former Aldus Corp. executives David Roberts and Michael Carpenter to address the design community's evolving image needs within an increasingly complex and time-constrained environment. The company offers both royalty-free and rights-protected stock photography, and hosts one of the largest collections of downloadable images on the Internet. Definitive Stock uses technology and a variety of valuable services and licensing options to eliminate the production, pricing and licensing frustrations associated with many traditional stock photography agencies. With its roots in the expanding mass circulation magazine and advertising market in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe in the 1920s and 30s, visual content represents an estimated $2 billion industry. Of that number, rights-protected stock photography -- for which the purchaser leases the photograph for one or more specific uses -- is estimated to be a $1.2 billion market, and royalty-free stock photography -- essentially the unlimited use of a photograph for a flat price -- is estimated to be a $150 million market. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion