Shutterstock to Acquire TurboSquid for $75m
Shutterstock, Inc., a global creative platform, today announced that it entered into a definitive agreement to acquire TurboSquid, Inc. for $75m.
For over 20 years, TurboSquid has been a global 3D industry firm, offering a unified 3D workflow, and operating a marketplace offering of more than one million 3D models, a 2D marketplace derived from 3D objects, and a digital asset management solution offered on a SaaS basis.
Since its inception in 2000, TurboSquid has enabled the creation, optimization, publishing and monetization of 3D models, while accelerating time to market and reducing development hours via its proprietary technology.
“At Shutterstock, we are constantly at the forefront of innovation, monitoring the creative roadmap through our clients,” said Stan Pavlovsky, CEO of Shutterstock. “The growth of 3D, AR and VR content and the potential to engage consumers with this disruptive technology is at an all-time high, and TurboSquid’s industry-leading platform allows us to make the distribution of 3D accessible to Shutterstock’s community of creators and marketers across video, gaming, e-commerce, and beyond.”
TurboSquid’s Chief Executive Officer Matt Wisdom added: “Nobody in the world understands the creative landscape better than Shutterstock. The visionary leadership and tech innovation make it the perfect place for TurboSquid and its employees to continue what we do best — creating and building a 3D powerhouse and cloud-based digital asset management solution.”