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Getty Buys StockByte

This is a discussion on Getty Buys StockByte within the Webmaster Discussion forums, part of the Webmaster Help category; Getty Images has purchased Irish company Stockbyte for 110 million euro!...


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  #1 (permalink)  
Old 07-04-2006, 08:37 AM
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Default Getty Buys StockByte
Getty Images has purchased Irish company Stockbyte for 110 million euro!
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Old 07-04-2006, 09:12 AM
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And the company gave $5M to the 28 employees (After Tax!!!). Ok they lost their jobs but I think if it was me I'd forgive 'em
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Old 10-04-2006, 09:47 AM
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aye 180k redundancy - I am sure they were crying into their breakfasts Friday morning - I know I was, wishing I worked for them
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Old 11-04-2006, 10:18 PM
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Originally Posted by fieldcorbett
Ok they lost their jobs but I think if it was me I'd forgive 'em
They did'nt actually even loss their jobs! They where offered the chance to retain their positions by transfering to London. However few are likely to take this option... with 180k, very high skills, and a decent role model, I suspect we may see a few new startups in Kerry soon!
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Old 21-04-2006, 09:08 PM
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There's a lot of coverage of the deal in this month's Business Plus
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Old 21-04-2006, 10:36 PM
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There's a lot of coverage of the deal in this month's Business Plus
Yeah, I read that article this morning. Rather interesting to see the motive for the purchase was basically to eliminate the most innovative firm in the industry before it destroyed the economics of Gettys business... sort of resonates with Microsofts strategy to business!
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Old 21-04-2006, 11:36 PM
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It's fairly common practice to either buy or merge with competitors..
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Old 22-04-2006, 12:33 AM
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I know it happens all the time; but the premium paid is still impressive; the €110m price tag repersents a p/e ratio of over 35 times 05' profits; which is certainly a nice valuation....


Interestingly Gettys own p/e ratio is 31 (http://www.nyse.com/about/listed/lcd...tml?ticker=GYI); so it must'nt be a bad business to be in!
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