Visual China Group announced on Monday that its overseas subsidiary JPEG Acquisition Corp has reached a deal to buy 100 percent of U.S. photo community 500px Inc for $17 million in cash.
Established in November 2011, 500px is based in the state of Delaware. With 13 million registered members, 500px attracts photographers from 195 countries and regions and owns more than 120 million photos.
This is Visual China's second overseas acquisition following its purchase of the image division and content licensing unit of Corbis Entertainment in January 2016.
