On July 7, 2017, Shutterstock, Inc. (Shutterstock), through an indirect, wholly owned subsidiary, acquired all of the issued and outstanding shares of FlashStock Technology Inc. (FlashStock) for a purchase price of approximately US$50 million, subject to customary adjustments. FlashStock is a Toronto based company that enables the efficient creation of custom visual content through its proprietary software platform. Shutterstock is a leading global technology company offering a creative platform for high-quality assets, tools and services.
Bennett Jones LLP acted as Canadian counsel to FlashStock with a team comprising Barry Reiter, Jesslyn Maurier, Jonathan Ip and Christopher Travascio (corporate), Philip Ward (tax) and Sara Parchello (employment).
Cooley LLP acted as US counsel to FlashStock with a team comprising Kevin Rooney, Mei Li and Sale Kwon (corporate), Wendy Brenner and Laura McDaniels (compensation and benefits) and Jonathan Rivinus (tax).
Shutterstock was represented in-house by Heidi Garfield, Jayshree Mahtani and Will Clark.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP acted as US counsel to Shutterstock with a team comprising Dan Goldberg, Hilary Adams, Valdemar Washington (corporate), David Sharrow, Katie Gardner and Dian Yu (IP), Lisa Gorrin and Cindy Douthwaite (compensation), and Mark Foster and Lily Kim (tax).Stikeman Elliott LLP acted as Canadian counsel to Shutterstock with a team comprising Jonah Mann, Kevin Smyth, Frank Selke, Meghan Jones and Andrew Chan (corporate), Frank Mathieu and Adam Drori (tax), Kathleen Chevalier (employment), Michael Kilby and Michael Laskey (competition), Michael Legendre (benefits) and Jonathan Auerbach (IP).