Shutterstock announced today that it has entered into an agreement with Meta to buy Giphy in a transaction that “consists of $53 million of net cash paid at closing, inclusive of working capital.” The move comes some seven months after the U.K.’s antitrust authority issued a final order for Meta to sell Giphy, on the grounds that the merger reduced dynamic competition. This is breaking, refresh for updates… Following UK antitrust order, Meta sells Giphy to Shutterstock for $53M after buying it for $400M by Paul Sawers originally published on TechCrunch
