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Getty acquires Italian distributor Laura Ronchi
Getty Images has announced the acquisition of Milan based Laura Ronchi, S.p.A., its largest master delegate. Laura Ronchi has been a key partner distributing Getty Images content in the Italian market since 1995. Getty Images has been criticized recently for its lack of growth in domestic channels, specifically RF single image sales, and appears to be looking to make up for lagging sales at home in overseas markets. Currently the Italian market is estimated to be the sixth-largest advertising market worldwide and one of Getty's fastest growing international markets with more than 30% growth in 4Q05 and 1Q06. "This acquisition helps us accelerate our reach into non-English speaking markets, which is a key focus area for our business in 2006," said Bo Olofsson, Senior Vice President of Sales for Getty Images. "Growth in the Italian market and the overall size of the opportunity strongly support this investment. By replicating our proven direct model and working closer with the Laura Ronchi, S.p.A. team, we plan to enrich the growth prospects for all our product and service lines in the region." Laura Ronchi, who founded her business in 1987, will serve as the Vice President of Sales Italy, reporting to Bo Olofsson. The deal was a cash transaction but specific details were not disclosed. Click here for the original press release.
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Comments(1)
post a comment »Anthony, February 13, 2008 [#]
HaHa i love the pic of “spa-getty Images”