Another stock agency gobbled up…
Today, Corbis announced the acquisition of Veer, a provider of visual elements and design-related products. The partnership brings together the second and fourth largest players in the global stock photography industry. The deal is expected to accelerate the growth of the the Veer brand, which already has strong recognition and appeal within the creative community, and to increase Veer’s exposure into markets around the world. Corbis plans to use the strength of the Veer brand to further increase their own brand and marketing capabilities in the North American advertising and design markets.
Corbis will maintain Veer as an independent brand with largely autonomous operations. Founded in 2002, Veer is based in Calgary, Canada with offices in New York, Berlin and Düsseldorf, and employs 170 people. The company is well known to creatives for its cool image and markting strategies, and for it’s great website, as well as for its line of innovative, graphic design related merchanise that they sell and offer to customers who make large purchases.
The move will give Corbis more strength to compete with it’s main rival, Getty Images, who reportadly generates three times as much income as Corbis each year in the $2 billion worldwide stock photography market.