Visual China Unit Will Buy Online Photography Community 500PX for USD17 Million
Tang Shihua
DATE:  Feb 27 2018
/ SOURCE:  Yicai
Visual China Unit Will Buy Online Photography Community 500PX for USD17 Million Visual China Unit Will Buy Online Photography Community 500PX for USD17 Million

(Yicai Global) Feb. 27 – A unit of Visual China Group Co., a Chinese online image, video and music service provider, will acquire world-renowned online photography community 500PX, Inc. for USD17 million.

Visual China Hong Kong Limited will set up an overseas unit JPEG Acquisition Corp. (JAC) to facilitate the takeover in accordance with regulations of the US state of Delaware, the Beijing-based firm said in a statement.

VCG holds a 15.48 percent stake in 500px via the Hong Kong unit and is the exclusive distributor of 500px's visual content in Greater China, the announcement said, adding that the parent will take a 100 percent stake in 500px through the deal.

The acquisition will help the company to improve its industry ecosystem and strengthen its dominant position in the imagery sector, the firm said, adding that VCG will be fully involved in the operation of the platform.

500px is a world-renowned online photography community with over 13 million professional and hobbyist members from over 195 countries and regions. The platform has produced more than 120 million images.

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Keywords:   M&A,U.S.,Photo Service,Internet Community,500PX,INC,Visual China