NEW YORK Getty Images Holdings, Inc. (NYSE: GETY) and Shutterstock (NYSE: SSTK) today announced that they entered into a definitive merger agreement to combine in a merger of equals transaction, creating a premier visual content company. The combined company, which would have an enterprise value of approximately $3.7 billion, will be named Getty Images Holdings, Inc and will continue to trade on the New York Stock Exchange under the ticker symbol GETY.As a combined company, GettyImages and Shutterstock will offer a content library with greater depth and breadth for the benefit of customers, expanded opportunities for its contributor community and a reinforced commitment to the adoption of inclusive and representative content. Furthermore, the stronger financial profile of the combined company is expected to create increased capacity for product investment and innovation for customers in a fastevolving and highly competitive environment. Todays announcement is exciting and transformational for our companies, unlocking multiple opportunities to strengthen our financial foundation and invest in the futureincluding enhancing our content offerings, expanding event coverage, and delivering new technologies to better serve our customers, said Craig Peters, CEO, GettyImages. With the rapid rise in demand for compelling visual content across industries, there has never been a better time for our two businesses to come together. By combining our complementary strengths, we can better address customer opportunities while delivering exceptional value to our partners, contributors, and stockholders.We are excited by the opportunities we see to expand our creative content library and enhance our product offering to meet diverse customer needs, said Paul Hennessy, CEO, Shutterstock. We expect the merger to produce value for the customers and stockholders of both companies by capitalizing on attractive growth opportunities to drive combined revenues, accelerating product innovation, realizing significant cost synergies and improving cash flow. We look forward to working closely with the GettyImages management team to complete the transaction and drive the next chapter of growth.Strategic and Financial BenefitsCuttingedge innovation:Facilitates greater investment in innovative content creation, expanded event coverage, and customerfacing technologies and capabilities such as search, 3D imagery and generative AI. Complementary portfolios:Creates a broader set of visual content products across still imagery, video, music, 3D and other asset types.Expanded opportunities for content creators:Provides contributors substantially greater opportunities to reach customers around the world.Strengthened balance sheet and greater cash flow generation:By deleveraging the combined balance sheet through the transaction and driving more robust cash flow, the combined company will be well positioned to accelerate debt repayment, reduce borrowing costs, and capitalize on new opportunities to create value for customers and stockholders.Significant synergies:Drives expected run rate synergies across SG&A and CAPEX between $150 million and $200 million achieved within the first three years postclose, with approximately twothirds expected to be delivered within the first twelve to twentyfour months.Compelling Financial Profile: On a pro forma 2024 basis the combined company would have an attractive financial profile:Revenue of between $1,979 million and $1,993 million, including 46% of subscription revenuePresynergy EBITDA of between $569 million and $574 millionPresynergy Adjusted EBITDA less capital expenditures of between $461 million and $466 millionPresynergy net leverage of 3.0x pro forma 2024 presynergy EBITDALeadership and GovernanceAt close, GettyImages CEO, Craig Peters, will serve as CEO of the combined company. The combined company will have an 11member Board of Directors, comprised of GettyImages CEO Craig Peters, six directors designated by GettyImages and four directors designated by Shutterstock, including Paul Hennessy, Shutterstock CEO. The Chairman of the Board of Directors of the combined company will be Mark Getty, currently Chairman of GettyImages.Transaction DetailsUnder the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Shutterstock stockholders at close can elect to receive one of the following:$28.84870 per share in cash for each share of Shutterstock common stock they own;13.67237 shares of GettyImages common stock for each share of Shutterstock common stock they own; ora mixed consideration of 9.17 shares of GettyImages common stock plus $9.50 in cash for each share of Shutterstock common stock they own.Shutterstock shareholder elections at close are subject to proration to ensure that the aggregate consideration payable by GettyImages consist of $9.50 in cash per Shutterstock share as of immediately before close and 9.17 shares of GettyImages stock per Shutterstock share as immediately before close.Based on the common shares outstanding as of the signing date, the aggregate consideration payable by GettyImages would consist of $331 million in cash and 319.4 million shares of GettyImages stock. These figures do not include the impact of unvested Shutterstock equity holders as of the signing date and do not assume any vesting of currentlyunvested Shutterstock equity holdings between signing and close.Shutterstock equity holders with unvested RSU and PSU grants at close will only be eligible to receive the mixed consideration noted above upon vesting with respect to such grants. Shutterstock option holders will have their options and strike prices adjusted by a ratio equal to the sum of (i) 9.17 and (ii) $9.50 divided by the 10day average closing stock price of GettyImages common stock for the period ending two (2) business days prior to the closing as quoted on NYSE. Equity treatment will take into account any employment contracts in place at the close of the transaction. Aggregate cash and share amounts are estimates and are subject to change between signing and close.At close, GettyImages stockholders will own approximately 54.7% and Shutterstock stockholders will own approximately 45.3% of the combined company on a fully diluted basis. Shutterstock will, at the discretion of its Board of Directors, continue to declare and pay quarterly cash dividends, in accordance with its dividend policy, pending the close of the transaction.Timing and ClosingThe transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals, the approval of GettyImages and Shutterstock stockholders and the extension or refinancing of GettyImages existing debt obligations. AdvisorsBerenson & Company, LLC is acting as lead financial advisor and J.P. Morgan Securities LLC is acting as a financial advisor to GettyImages and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor. Allen & Company LLC is acting as exclusive financial advisor to Shutterstock and White & Case LLP is serving as legal advisor.Source: Getty Images Dan Sarto is Publisher and Editor-in-Chief of Animation World Network.

Breakdown & ShowreelsCitadel Diana: Motion Graphics by PerceptionBy Vincent Frei - 07/01/2025 Step into the sleek world of Citadel: Diana, where New Jersey-based Perception crafts dazzling motion design. From dynamic animations to cutting-edge tech interfaces, their work is as thrilling as the plot itself!WANT TO KNOW MORE?Perception: Dedicated page about Citadel: Diana on Perception website.Giancarlo Derchie: Heres my interview of Production VFX Supervisor Giancarlo Derchie. Vincent Frei The Art of VFX 2025

Generative AI software startup Backflip has launched from stealth mode after raising $30 million in funding. Headed by CEO Greg Mark and CTO David Benhaim, who founded industrial 3D printer manufacturer Markforged, the companys AI tool converts text and photo prompts into 3D printable parts.Venture capital firms NEA and Andreessen Horowitz (a16z) co-led the $30 million financing. Heavy-hitting angel investors also provided capital, including Microsoft CTO and LinkedIn Co-founder Kevin Scott, Android Founder Rich Miner, and Essential AI CEO Ashish Vaswani, who co-authored the 2017 AI research paper Attention Is All You Need.Through their new company, Mark and Benhaim have set out to develop digital tools and an AI model that accelerates the 3D design process. The pair founded Markforged in 2013, successfully building the company to a 2021 SPAC merger and public listing with a peak valuation of $2.1 billion.Backflips debut offering allows users to create high-resolution, 3D models from simple text descriptions or images. Complex designs that would have taken days can now be generated in minutes, the startup claims. Once generated, the models can be 3D printed in metal, carbon fiber, or plastic.Each era of humanity is defined by the tools we harness. The last 50 years has brought incredible improvement to the pace of innovation in software and electronics, but the design of physical products has lagged behind, commented Mark. Were building a next-generation design tool that allows a small team to move with the velocity of the biggest engineering army in the world.Mark added that this new AI tool represents a giant leap forward in bringing design and manufacturing back to the US, amid efforts by the US government to re-shore production and localize critical supply chains.A 3D printed copper mug designed in Backflip. Image via Backflip.Backflips new AI text-to-3D toolBackflip claims that conventional 3D design software offerings, while powerful, are often slow and time-consuming, hampering the design process. They argue physical products are often launched without features and refinements that could have been added through a more efficient design process.As such Mark and Benhaim are working to streamline and accelerate design workflows. AI language models capture how we think, vision models capture how we see, and Backflip is creating foundation models that capture how we build, explained Benhaim.He added that Backflip has invented a novel neural representation that teaches AI to think in 3D, unlocking a new category of models. According to Benhaim, this enables 60x more efficient training, 10x faster inference, and a spatial resolution that is 100x greater than existing methods. Our series of 3D foundation models will form the kernel for building the real world, the CTO added.Although the founders are best known for developing 3D printing hardware, they are not without experience in the software space. While at Markforged, Mark and Benhaim developed the Eiger cloud-based CAD platform. The software is used by over 50,000 designers and engineers worldwide, facilitating the design of aerospace-grade parts in carbon fiber materials.Lila Tretikov, Partner and Head of AI Strategy at NEA, believes the Backflip team stands at the forefront of this new industrial age at a pivotal time revitalizing American manufacturing, strengthening national security, and accelerating economic prosperity.An object created from a 3D model generated in Backflip using text and image prompts. Photo via Backflip.AI 3D model generators gain tractionAs large language models and easily accessible AI tools like Chat GPT continue to grow, more companies are launching generative design platforms that can create 3D models from basic text and image inputs.Previously, GPU manufacturer Nvidia published a research paper outlining Magic3D, an AI-powered generative text-to-3D platform. Created in response to Googles DreamFusion and Physna Inc.s generative AI prototype, Magic3D uses a two-stage method that creates a rough, low-resolution model from a simple text input. This is then enhanced to a higher resolution. The tool can reportedly create a 3D mesh model with colored texture in under 40 minutes, offering value for CGI art and video game applications.More recently, Shenzhen-based 3D printer manufacturer Bambu Lab launched PrintMon Maker. This AI model generator allows users to create 3D printable, multicolor Pokemon-like characters from text or image prompts. Launched last October, this free-to-use platform seeks to encourage creativity and lower the barrier of entry for 3D modeling.Elsewhere, French software start-up Spare Parts 3D offers Thia, an AI-powered tool that can automatically convert 2D technical drawings into 3D printable models. Integrated into the companys DigiPart software, the tool leverages deep-learning technology to reduce 2D-to-3D conversion times from days to minutes, reducing digitization costs in the process.Spare Parts 3D hopes Thia will allow more companies to leverage additive manufacturing for spare parts production, reducing the need for costly physical inventories. The company claims the AI tool can collectively save $34 billion through inventory digitization each year.Who won the 2024 3D Printing Industry Awards?All the news from Formnext 2024.Subscribe to the 3D Printing Industry newsletter to keep up with the latest 3D printing news.You can also follow us on X, like our Facebook page, and subscribe to the 3D Printing Industry Youtube channel to access more exclusive content.Featured image shows Backflip Founders Greg Mark (CEO, right) and David Benhaim (CTO, left). Photo via Backflip.

Hello, I am a Junior vfx artist and I have questionIs Japan better than China in terms of working as a vfx artist? Because I love China and Japan very much, but I am confused about the choice! I have no problem learning Japanese or Chinese. 1 post - 1 participant Read full topic

Heya folks. Is there a way to output the needed indices for each particles using a simple int for the Mesh renderer mesh index variable?Context: Im doing floating numbers with niagara and so far Ive been using it by spawning a different System each time a damage event took place and fed it the numbers. As the screenshot shows I was doing it through an int selection array where I fed each number per index in blueprint and it displayed the correct number.Now I wish to swap to the Data Channel workflow for optimization reasons as with several enemies on screen there were quite a bit too many systems spawning especially from damage AoEs.Problem is the data channel doesnt seem to accept integer arrays in order to feed the proper damage number to display from blueprint. Would be any other way to do this with an int or float or something? 1 post - 1 participant Read full topic

One of the charming converted old fire stations of Newport, Rhode Island, can be found tucked away on Prospect Hill Street. This is Hose No. 8 Fire Station, built in 1887 by the City of Newport as a neighborhood station to battle fires in the dense network of streets and homes Downtown. The design blends Romanesque Revival and Victorian Gothic elements into a compact, two-story brick building. The station was closed in 1912 as the structure no-longer was compatible with larger fire apparatus and gasoline-powered trucks. The building would suffer from neglect and was crumbling, before being reconstructed, brick-by-brick, and restored by Hacin Architects of Boston as a private residence. The structure is essentially new on the interior but provides a significant preserved exterior that was long part of the eclectic streetscape of Prospect Hill Street.

Karl FlindersNewsFormer subpostmasters invited to take part in Post Office Capture compensation scheme developmentGovernment will look at a selection of cases where subpostmasters experienced unexplained losses while using the Post Offices pre-Horizon accounting systemByKarl Flinders,Chief reporter and senior editor EMEAPublished: 07 Jan 2025 17:22 Former users of a pre-Horizon Post Office accounting system, who suffered as a result of its errors, are being invited to tell their stories to the government as it attempts to ascertain common themes that will help in the design of its compensation scheme.The government has recognised that problems with the Post Offices Capture softwarecaused discrepancies and said it will offer financial redress and review criminal prosecutions.The first invitations to people who suffered financial losses and criminal convictions were sent out by Hudgell Solicitors, which represents about 80 former Capture users.The case studies will help establish key themes which will help shape how the compensation scheme will look, according to Hudgells.The Capture software was used before the controversial Horizon system at the centre of the Post Office scandal, but unknown to the subpostmasters using it, errors in the software were causing the account shortfalls they were blamed and published for.Since the Horizon problems became mainstream news in January last year, after 15 years on the fringes of public debate, former subpostmasters who had experienced similar problems with Capture came forward with their stories.After former MP and now peer Kevan Jones highlighted their problems, things escalated quickly as the government didnt want to be seen to be ignoring the issue as it did with Horizon for two decades.A forensic investigation commissioned in May 2024 found a reasonable likelihood that the Post Office Capture software caused accounting losses, and in December, the government officially recognised that Capture users experienced shortfalls caused by errors in the system.Jones said it was agreed with the government that Hudgells would bring forward about a dozen cases with a variety of experiences to help develop a redress scheme. We do not have to reinvent the wheel, but there are some aspects of Capture which are different to Horizon, he said.Jones said there was also a lack of information due to the length of time that has passed since the subpostmasters had problems with Capture.Former subpostmaster and Capture user Steve Marston has been invited to take part. I am more than happy to take part and I am glad to see things are moving quickly. The sooner this is sorted out, the sooner we can come out the other end, he said.Marston, who was a subpostmaster in Bury, Lancashire, was prosecuted in 1996 for theft and false accounting following an unexplained shortfall of nearly 80,000. He said he had never had any problems using the paper-based accounting system, but that changed when his branch, which he ran from 1973, began using the Capture system.We were pushed into using it by the Post Office in 1996, he told Computer Weekly last year. He added that he felt pressured into using the system at a time when many branches were being closed by the Post Office.It was a choice of moving to this system or remaining with the manual system and risk closure. I had no problems for 20 years using manual accounting processes, but within two years of using Capture, I ran up a debt of 79,000, said Marston.After an audit revealed a loss that he couldnt fully cover out of his own pocket, Marston was advised to plead guilty to theft and fraud to avoid jail. The judge took into account two bravery awards Marston had received for standing up to armed robbers, saving him a jail sentence. He received a 12-month suspended sentence, lost his home and business, and went bankrupt.An estimated 2,000 branches used Capture, but the extent of problems is difficult to ascertain because many used it over 30 years ago. As a consequence, information is scarce and some users have passed away.Under extreme public scrutiny, the government and the Post Office acted quickly to listen to Capture users, in contrast with the Horizon problems, which took almost 20 years and hundreds of millions of pounds before the Post Office and government acknowledged there was a problem.A Department for Business and Trade spokesperson said: Last month, we officially recognised Capture could have created shortfalls affecting postmasters. Thats why we are working with postmasters who suffered losses as a result of Capture to gather information to help design a redress process.The Criminal Cases Review Commission, whichstarted reviewing subpostmaster convictionsthat were based on evidence from the flawed Horizon system in 2015, is now looking into Capture-based prosecutions. It took until 2021 for thefirst Horizon-based convictions to be overturned in Southwark Crown Courtandthe Court of Appeal.Horizon and Capture are poles apart in terms of technology. Capture was software, available in the early 1990s, that subpostmasters could buy and download onto a PC to do their accounts. Horizon is a major enterprise system that connects to Post Office systems and is used in all branches, of which there are about 12,000.But the treatment of subpostmasters who experienced unexplained shortfalls while using Capture had the same hallmarks. For example, data on Post Office prosecutions of subpostmasters revealed worrying similarities in the way it treated Horizon and Capture userswho suffered unexplained losses.Computer Weeklyfirst exposed the scandal in 2009, revealing the stories of seven subpostmasters and the problems they suffered as a result of the Horizon system, and has investigated ever since.Timeline of how Capture controversy unravelled after dramatisation of Post Office Horizon scandal2024In The Current Issue:What do the home secretarys policing reforms mean for the future of the Police Digital Service?What are the security risks of bring your own AI?Download Current IssueSAP customer unrest: How did we get here? Write side up - by Freeform DynamicsData engineering - Jesse Anderson: Recalculating the 'confused' team CW Developer NetworkView All Blogs

A new program from the FCC should make it easier to find devices you can trust.

Meta CEO Mark Zuckerberg cited the recent elections as a 'cultural tipping point' for restoring free speech.

Kerry Wan/ZDNETThe biggest week in tech is here: the annual Consumer Electronics Show (CES). ZDNET is on the ground in Las Vegas and also keeping a virtual eye on the products and concepts that debuted on the show's first day.Also: CES 2025: What to expect and how to watchSo far, we've seen announcements from big names like Samsung, LG, and HP, as well as new and innovative brands with cool concepts. Here's the tech gear that has impressed us the most.1. AI-integrated TVs Sabrina Ortiz/ZDNETTVs are always big at CES, and this year, the common thread among new TV models seems to be AI integrations. For example, Samsung's new lineup of TVs takes advantage of AI upscaling to make older content look better through HDR Remastering, which enhances standard dynamic range content to high dynamic range levels.LG's AI-powered TV technology includes features like AI-powered recommendations with voice recognition, an AI chatbot and AI search, and an LG AI Concierge that tracks your preferences alongside search history to provide contextual insights based on what's playing on your screen.Plus, Google is improving its TV experience by incorporating its Gemini AI assistant to converse with your Google TV without needing to say "Hey Google," and the ability to ask more complex questions.2. An alternative to Dolby Atmos ZDNETEclipsa Audio is Samsung and Google's answer to Dolby Atmos. One big difference in this new 3D audio format compared to Dolby Atmos is that it doesn't have licensing fees; it will be a free and open-source audio format. So far, the format is available only onSamsung's 2025 lineupofCrystal UHDto Neo QLED 8K TVs and its 2025 lineup of soundbars, but we're excited to hear it in person nonetheless.3. Smart home collaborations Ring/KiddeSmart home devices are about to get even smarter thanks to a few key collaborations we've seen at CES. First off, Ring and Kiddie are pairing up to launch a new collection of smart smoke and combination detectors featuring Ring technology. When the alarms detect harmful levels of smoke or carbon monoxide (CO), you'll receive a notification through the Ring app.Also: Ecobee just launched a surprisingly affordable smart thermostat at CES 2025In addition, Home Depot is throwing its hat in the ring of smart home tech with its new Hubspace devices, which will debut later this year. These new devices include a Remote Switch to control on/off functionality and brightness control for lights, as well as two Vissani AC units with smart climate control and customizable schedules and modes.4. Circular's smart ring gets upgrades Circular/ZDNETIn what's arguably the fastest-growing wearables category, smart ring makerCircular made a huge announcement at CES. Alongside new heart health monitoring like Atrial Fibrillation detection included within the ECG capability and improved sensors, smart ring buyers can now figure out their ring size without the need for a physical kit -- something no other smart ring brand has done so far. You can try on the Circular 2 via Digital Ring Sizing, which uses a smartphone's camera to determine a user's ring size.5. TCL's new devices are easy on the eyes Kerry Wan/ZDNETTCL debuted two new devices that caught our eye and benefit your eyes. The TCL 60 XE Nxtpaper 5G is a smartphone with Nxtpaper 3.0 display technology, which blocks blue light to promote visual comfort and reduce eye strain. And, of course, there's AI involved: the Smart Eye Comfort Mode and the Personalized Eye Comfort Mode adaptively configure the display's colors, brightness, and contrast levels based on the user's preference.The QM6K mini LED TV is packed with features like precise dimming and brightness controls, a redesigned backlighting system to reduce the halo effect of images on screen, a new color optimization algorithm, and enough quantum crystals to render over one billion colors, which we are excited to test out.6. Lots of laptops Kyle Kucharski/ZDNETMonday seems to be the day dedicated to laptops, as we've so far seen announcements from HP, Dell, and Acer. HP's Elitebook series got an AI boost, and Dell nixed its XPS namesake to rebrand its entire portfolio into the Dell, Dell Pro, and Dell Pro Max. These Dell models will, of course, feature AI capabilities alongside Wi-Fi 7 support and snappy performance.Also: Qualcomm set to bring fast Snapdragon X performance to mid-range laptops with new chipsetMeanwhile,Acer's lineup of devices is super versatile, thanks to their lightweight form factors and OLED displays. Finally, we were impressed by Lenovo's 14-inch laptop with a "rollable" display that extends upwards over 16 inches. The expandable display is triggered by hitting a button on the keyboard, but it also responds by holding your palm out in front of the device, and then raising or lowering it will activate the display.7. A hands-free smart lock SchlageImagine approaching your front door, and it automatically unlocks without you having to do anything. That's exactly what Schlage debuted at CES Monday in the Sense Pro lock. The lock uses Ultra Wideband (UWB) radio signals and a paired device, such as a smartphone, to calculate speed, trajectory, and motion, unlocking the door as you reach for the handle.Also:Do you need a smart doggy door? I wasn't convinced until I saw this at CESThe lock also supports Matter-over-Thread, meaning it can securely connect to your smart home network of devices.8. A robot vacuum with an arm RoborockYou know how you have to pick up clothes, toys, or other obstacles from your floor before running a robot vacuum? Well, Roborock has a solution: a robot vacuum with a mechanical arm that grabs small obstacles while it cleans.The Roborock Saros Z70's mechanical arm uses OmniGrip technology to remove obstacles under 8 oz while it mops and vacuums your floors. The flagship model is set to debut during the first half of 2025, and we can't wait to try it out in our homes.9. MSI's massive lineup of gaming laptops Kyle Kucharski/ZDNETGamers will appreciate MSI's CES announcement, which includes more than ten 18-inch laptops with new AMD processors and special edition designs. For example, the 18-inch Titan HX AI has a chassis inscribed with shimmering old Norse runes, while the back features an illustration of dragon eyes.Also: Razer just announced its latest Blade 16 gaming laptop, and it's even thinner than beforeOther laptops in the lineup include dual fan setups, Wi-Fi 7 bandwidths, up to 240Hz displays, and up to 96GB of memory, to name a few of the standout features.10. A new entry-level TV you can actually pre-order Kerry Wan/ZDNETTCL unveiled its QM6K, which brings the company's Mini LED technology to its entry-level QLED TV at an aggressive price. This TV sports the kind of brightness, contrast, and color depth you'd typically find in a much more premium model from the big TV vendors.Also: TCL won the opening of CES 2025 with a great new TV you can actually pre-orderBut TCL is offering it starting at $799 for the 65-inch QM6K and you can even pre-order it today, a first at CES. You may have to put it in your shopping cart to see the price drop from the retail price of $999 down to $799. But when you pre-order, TCL will also send you a Q75H 5.1.2 soundbar for free (an $899 retail value). TCL is also offering the 75-inch QM6K for $999 and the 85-inch for $1,499.CES 2025