Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'

Getty Images & Shutterstock merge into a $3.7B media giant, combining their vast libraries & resources to redefine the visual content industry.

Shares in Getty Images and Shutterstock surged after the image companies agreed to merge, creating a group worth about $3.7 billion including debt. Getty stock stood about 25% higher Tuesday morning.