NEW YORK--(BUSINESS WIRE)--
Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR")
today announced the completion of the acquisition of Fotolia.
On 16 May, KKR announced a $150 million growth equity investment in
Fotolia. In addition, KKR, TA Associates and Management worked with KKR
Capital Markets and a number of relationship banks to put in place $150
million of senior financing for the Company.
Founded in 2005, Fotolia offers its users over 17 million digital images
and videos. Fotolia is the leading microstock platform in Europe and is
ranked among the top stock photography websites globally, providing a
unique marketplace for photographers to sell their images. Photographers
receive commissions from each image that is licensed via Fotolia.
Philipp Freise, Head of European Media Investments for KKR, commented:
"This investment is about providing entrepreneurial capital and further
accelerating Fotolia's phenomenal growth. We are excited to partner with
the team that has built Fotolia from a startup into one of the world's
leading microstock platforms."
Oleg Tscheltzoff, co-Founder and CEO of Fotolia, added: "Our goal is to
be the global source of inspiration for designers and buyers of creative
content. We are extremely proud to have KKR join Fotolia as a lead
investor. The extensive worldwide network of KKR will enable us to
cement our global leadership in the stock photography industry."
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a
leading global investment firm with $62.3 billion in assets under
management as of March 31, 2012. With offices around the world, KKR
manages assets through a variety of investment funds and accounts
covering multiple asset classes. KKR seeks to create value by bringing
operational expertise to its portfolio companies and through active
oversight and monitoring of its investments. KKR complements its
investment expertise and strengthens interactions with investors through
its client relationships and capital markets platform. KKR is publicly
traded on the New York Stock Exchange (NYSE: KKR). For additional
information, please visit KKR's website.
Headquartered in New York, Fotolia operates websites in 15 countries in
11 languages (English, French, German, Spanish, Italian, Portuguese,
Polish, Russian, Japanese, Turkish, and Korean). With over 17 million
digital images and videos to choose from, Fotolia offers one of the
largest image databases of quality. Over 3 million people choose Fotolia
for affordable, royalty-free images, graphics and HD videos. With the
introduction of the Infinite Collection, Fotolia became the first
worldwide microstock organization to offer both crowd-sourced and
professional images on one site. Fotolia's leadership in the digital
images sector is recognized by its partnerships with, amongst others,
the Associated Press. Earlier this year, Fotolia acquired Wilogo, a
crowd-sourced design community. Connect with Fotolia on Facebook
About TA Associates
Founded in 1968, TA Associates is one of the largest and most
experienced middle-market growth private equity firms. The firm has
invested in over 400 companies globally and has raised more than $16
billion in capital. With offices in Boston, Menlo Park, London, Mumbai
and Hong Kong, TA Associates leads buyouts and minority
recapitalizations of profitable growth companies in the healthcare,
technology, financial services, business services and consumer
industries. More information about TA Associates can be found at www.ta.com.
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