US stock photo agency Shutterstock to acquire WebDAM
Shutterstock is snapping up digital asset management software firm WebDAM in a bid to widen its client base. The value of the acquisition deal were not disclosed, according to VentureBeat.
Under the terms of the said deal, Shutterstock said WebDAM will continue to exist as a separate brand even after the integration. ZDNet cited WebDAM chief Jody Vandergriff saying their customers will not be required to sign up for both services, but they can just choose one or both. If WebDAM customers choose to sign up for Shutterstock, they will have access to the latter's catalogue of media files, the report explained.
According to ZDNet, the company was drawn to WebDAM's web-based tool for digital asset management. Shutterstock also said in a Monday press release that those tools will help them attract bigger enterprise clients, the report stated.
The 25-person team of WebDAM will still be managed by the same leaders. The company is currently based in San Mateo, California, VentureBeat reported.