Simpson Thacher Represents KKR and Fotolia in Sale of Fotolia to Adobe
12.12.14
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Simpson Thacher is representing Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) and Fotolia in connection with the sale of all of the outstanding shares in Fotolia by KKR, TA Associates L.P. and Fotolia management to Adobe Systems Inc. (NASDAQ: ADBE) for a total enterprise value of $800 million.
Fotolia is a large global marketplace for royalty-free images, graphics and HD videos. With more than 34 million digital images and videos, Fotolia operates one of the world's most liquid content marketplaces. The transaction is expected to close in January 2015.
KKR is a long-standing Simpson Thacher client. The Firm represented KKR in connection with its growth equity investment from its third European fund to acquire a 50% stake in Fotolia in June 2012. The Firm has represented Fotolia since the closing of the KKR investment.
The Simpson Thacher team working on the transaction includes Mark Pflug, Jona Lundborg and Derek Stueben (M&A); Nancy Mehlman and Jason Vollbracht (Tax); David Rubinsky, Jeannine McSweeney and Brittany McCants (Executive Compensation and Employee Benefits); Lucy Jenkins (Credit); Marcela Robledo (Intellectual Property); and David Vann and Tara Kelly (Antitrust).