123RF does not disclose the terms of the transaction that will help parent company Inmagine Group create a “holistic creative ecosystem”
Malaysian stock-photo startup 123RF today announced that it has acquired mobile image editor startup Pixlr.
The terms of the transaction was not disclosed.
In a press statement, 123RF stated that the acquisition will help its parent company Inmagine Group achieve its mission to create “a holistic creative ecosystem that makes great design accessible to all.”
In an e-mail to e27, Inmagine Group and 123RF founder and chairman Andy Sitt explained that the company is “committed” to integrate both platforms, and that Pixlr will maintain its own brand under 123RF’s operation in the interim.
“123RF’s in-house production team of over 200 will begin working to expand the Pixlr content library as a value add to its users, ensuring Pixlr communities will continue to have access to new tools and content. We are excited to enable users with seamless access to free and affordable content within their favourite free image editing tools,” he wrote.
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“Our team of engineers is already integrating Pixlr’s platform with 123RF, and we should see some level of integration in Q3 2017,” he added.
Inmagine Group is looking to secure 50 million monthly active users (MAUs) through the acquisition, as Pixlr is said to have secured over 100 million installs of mobile apps.
In March, 123RF acquired UK-based graphic design portal TheHungryJPEG for a cash sum in the “seven-digit” US valuation.
It has also received a capital injection through venture debt from InnoVen Capital.
Pixlr itself was founded in Sweden in 2008. It offers cloud-based image editing tools and utilities such as Pixlr Editor, Pixlr-O-Matic and Pixlr Express.
It was acquired by Autodesk in 2011 for an undisclosed sum.
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Source: e27
