Shutterstock, a publicly traded company with a current market value of approximately $ 2.7 billion, is an online marketplace for digital assets such as photos, film and other visual images.
General Electric Co. said it will close its technology center in New Orleans and lay off all 100 employees in its Place St. Charles office, deali …
The acquisition of TurboSquid, which has approximately 40 employees in New Orleans and a similar number in other locations worldwide, gives Shutterstock a greater presence in the digital imagery markets that are growing faster than traditional photos and videos.
Matt Wisdom, 48, is the CEO of TurboSquid. He said he expects to join Shutterstock to run their 3D business. And while he said it was too early to talk about Shutterstock’s plans, he hopes the prospects of keeping the 3D division in New Orleans were good.
New Orleans tech company TurboSquid bought by Shutterstock for $75M [The Times-Picayune | The New Orleans Advocate]
Jan. 26 TurboSquid, an online marketplace for 3D digital models and one of New Orleans’ most prominent homegrown technology firms, was sold Tuesday to New York-based Shutterstock for $75 million.
Started by New Orleans natives Matt and Andy Wisdom in 2000, TurboSquid grew out of a separate digital imaging company that designed trees, cars, and other digital creations used by video game makers to populate the backgrounds of digital worlds.
It grew to become the world’s largest online marketplace for 3D models and images, which today are bought and sold by people in industries ranging from video games and advertising, to architecture and medicine.
AIM performance in 2020 was dazzling and looks set to continue 25 Jan 2021
Many smaller companies did well through the first year of the pandemic. Chris Boxall, co-founder of AIM specialists Fundamental Asset Management, reviews AIM performance in 2020.
London’s AIM market had a remarkable 2020, ending the year with its market value at an all-time high and with the AIM index also significantly outperforming other UK main market indices.
While smaller companies have a tendency to underperform their larger peers in a struggling economy – and the UK economy certainly struggled in 2020 – a large number of AIM companies were beneficiaries of the pandemic and lockdown environment.
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Takeovers of companies listed on the junior market have dominated London Stock Exchange deals recently.
In the year to September 2020, mergers and acquisitions involving smaller companies accounted for 56 per cent of the total up from 46 per cent in the previous 12 months.
There was also a strong rise in takeovers made by private equity groups, according to research by accountancy firm UHY Hacker Young.
M&As involving smaller companies accounted for 56% of the total up from 46% last year Private equity firms have excess cash to invest and are on the hunt for value wherever they can find it. Clearly they are seeing a lot of value in AIM companies that still remain off limits to many institutional investors, said Daniel Hutson, a partner at the chartered accountant.