February 15, 2005
Jupitermedia Corporation announces agreement to acquire Creatas, LLC, the parent company of Dynamic Graphics, Inc. and PictureQuest Acquisition Company, LLC, and its many stock photo and related graphics brands (Dynamic Graphics Group).
On February 14, Willkie client Jupitermedia Corporation, an online information provider, announced that it had signed a definitive agreement to acquire Creatas, LLC, the parent company of Dynamic Graphics, Inc. and PictureQuest Acquisition Company, LLC, and its many stock photo and related graphics brands (Dynamic Graphics Group), for about $38.2 million in cash and over 1.48 million shares of its stock (valued at approximately $25.5 million immediately prior to announcement of the transaction). Peoria, Ill.-based Dynamic Graphics Group offers a variety of resources for the graphic design industry, and PictureQuest is a distributor for 50 photo agencies. The transaction, which is expected to make Darien,Conn-based Jupitermedia the world's third-largest distributor of stock photography, is set to close in March 2005, pending customary closing conditions. The deal was handled by partner Jeffrey Poss and associates Joseph Cunningham and Erika Shalette.
