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Jupitermedia Buys Ablestock.com And ImageExpress.com
In a press release today Jupitermedia Corporation announced that its wholly-owned subsidiary JupiterImages Corporation has acquired Hemera Technologies for $7.3 million in cash.
Hemera Technologies, based in Gatineau, Quebec, Canada, is a leading resource for royalty free digital images for business users and creative professionals. Hemera Technologies sells images on CD and DVD as well as by download over the Internet, individually or through subscription, through its AbleStock.com and ImageExpress.com Web sites.
"The acquisition of Hemera's images and business operations solidifies JupiterImage's position as one of the largest organizations in the business of selling royalty free digital images by download or online subscription" stated Alan M. Meckler, Chairman and CEO of Jupitermedia Corporation.
"Hemera's collection of over 600,000 wholly owned digitized images, which includes photos, photo objects and clipart, increases our position as the largest owner of wholly owned digitized images in the world. We anticipate significant marketing and business synergies between the Hemera business and image assets and our JupiterImages division as well as our other Jupitermedia properties. We expect that this acquisition will be accretive to our earnings and cash flows," added Meckler.
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