This deal is particularly useful for NewsCred, as it helps to bolster the company’s focus on licensed articles with images and videos. Explained quite directly, NewsCred CEO Shafqat Islam tells us that he is excited to “deepen [NewsCred's] relationship with Getty Images through this acquisition.” Given that Getty Images’ CEO and SVP of Business Development are both on Daylife’s board of directors, that relationship will indeed be very close.
According to the terms of the acquisition, the Daylife brand will be folded into NewsCred. To be clear, NewsCred explains that Daylife customers “will still receive the same (and added) solutions and tools but they will be direct customers of NewsCred.” Additionally, products like Dailylife’s SmartGalleries will remain, but are going to be rebranded.
As for the staff, NewsCred tells us that DayLife employees are moving into its offices and “will be supporting the larger team with their respective positions.”
As the two services merge into one, there’s no denying that this is a powerful combination. It’ll be particularly interesting to watch how NewsCred positions itself with an expanded emphasis on photography and videography. Also, considering that NewsCred claims it will have paid “millions” back to publishers by the end of 2012, this should be good news for publishers and content creators as well.
Image Credit: AFP / Getty Images