NEW YORK--(BUSINESS WIRE)--Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") today announced the completion of the acquisition of Fotolia.
On 16 May, KKR announced a $150 million growth equity investment in Fotolia. In addition, KKR, TA Associates and Management worked with KKR Capital Markets and a number of relationship banks to put in place $150 million of senior financing for the Company.
Founded in 2005, Fotolia offers its users over 17 million digital images and videos. Fotolia is the leading microstock platform in Europe and is ranked among the top stock photography websites globally, providing a unique marketplace for photographers to sell their images. Photographers receive commissions from each image that is licensed via Fotolia.
Philipp Freise, Head of European Media Investments for KKR, commented: "This investment is about providing entrepreneurial capital and further accelerating Fotolia's phenomenal growth. We are excited to partner with the team that has built Fotolia from a startup into one of the world's leading microstock platforms."
Oleg Tscheltzoff, co-Founder and CEO of Fotolia, added: "Our goal is to be the global source of inspiration for designers and buyers of creative content. We are extremely proud to have KKR join Fotolia as a lead investor. The extensive worldwide network of KKR will enable us to cement our global leadership in the stock photography industry.”
About KKR
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $62.3 billion in assets under management as of March 31, 2012. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platform. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For additional information, please visit KKR's website.
About Fotolia
Headquartered in New York, Fotolia operates websites in 15 countries in 11 languages (English, French, German, Spanish, Italian, Portuguese, Polish, Russian, Japanese, Turkish, and Korean). With over 17 million digital images and videos to choose from, Fotolia offers one of the largest image databases of quality. Over 3 million people choose Fotolia for affordable, royalty-free images, graphics and HD videos. With the introduction of the Infinite Collection, Fotolia became the first worldwide microstock organization to offer both crowd-sourced and professional images on one site. Fotolia's leadership in the digital images sector is recognized by its partnerships with, amongst others, the Associated Press. Earlier this year, Fotolia acquired Wilogo, a crowd-sourced design community. Connect with Fotolia on Facebook and Twitter.
About TA Associates
Founded in 1968, TA Associates is one of the largest and most experienced middle-market growth private equity firms. The firm has invested in over 400 companies globally and has raised more than $16 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the healthcare, technology, financial services, business services and consumer industries. More information about TA Associates can be found at www.ta.com.