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Company Announces Acquisition of Veer



SEATTLE (November 6, 2007) – Corbis (www.corbis.com), a creative resource for advertising, marketing and media professionals, today reaffirmed its commitment to the image licensing market by announcing the acquisition of Veer, a provider of visual elements and design-related products. The announcement advances Corbis’ strategic market approach to establish a network of brands to serve different types of customers and accelerate its growth in the commercial space.

“We’re bullish about the future of the stock photography industry and are seizing this opportunity during a period of market disruption to take bold steps toward capturing momentum,” said Gary Shenk, CEO, Corbis. “Our goal is to have the fastest growing, leading brands across the entire spectrum, from high-end commercial imagery to editorial, microstock and rights services.”

The partnership brings together the second and fourth largest players in the global stock photography industry. Corbis will maintain Veer as an independent brand with largely autonomous operations. Founded in 2002, Veer is based in Calgary, Canada with offices in New York, Berlin and Düsseldorf, and employs 170 people.

Corbis intends to leverage Veer’s brand, which resonates strongly with the creative community, and its industry-leading integrated brand marketing capabilities to increase its North American market penetration in the advertising and design space. Corbis will also use its global infrastructure and direct sales expertise to accelerate the growth of the Veer brand in markets around the world. The companies will maintain distinct customer propositions and leverage cross-selling opportunities for Corbis’ industry-leading Rights Services and Veer’s discerning type face collections.

“Corbis is the perfect partner to help us accelerate our long term growth goals,” said Brad Zumwalt, CEO, Veer. “Our companies both have an unmatched passion for the creative community, and by coming together, we will bolster our ability to connect with creatives worldwide while innovating our business and providing products to our customers so they can do their best work.”

As part of the agreement, Veer’s leadership team has made long-term commitments to remain with Veer and Corbis following the acquisition. Among them, Brad Zumwalt, Chief Executive Officer, Veer, and Nairn Nerland, Chief Operating Officer, Veer, will join Corbis’ Executive Team.

Corbis is organizing its business into a “network” of brands including Veer, Corbis, the company’s long-standing flagship brand serving both commercial and editorial customers, Corbis Rights Services, the world’s leading rights services offering, as well as SnapVillage, the company’s recently-launched microstock website.

Corbis is a creative resource for advertising, marketing and media professionals worldwide, helping to bring creative work to life with the highest quality photography, footage and rights services. Corbis offers a preeminent collection of more than 100 million creative, entertainment and historic images, a comprehensive footage library, the world's deepest rights and clearances expertise and an award-winning media management solution, as well as empowering SnapVillage, an innovative microstock web site. Based in Seattle, Corbis serves more than 50 countries worldwide. For more information, visit www.corbis.com.

Veer sources and delivers visual elements with imagination and style to inspire creativity and help creatives diverge from the norm and generate fresh solutions. Veer presents a discerning, design-driven selection of photography, illustration, type, and footage, including exclusives and world premieres. Its products are used daily in advertising, print and web design, corporate communications, and publishing. The privately held company has offices in the United States, Canada, and Germany and serves its global base of customers through its call center and its award-winning web site www.veer.com.


   







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