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Japan Chip Giant Rohm to Invest $722 Mln in Toshiba Buyout Group 

A man arrives to attend Toshiba Corporation's 184th annual general meeting of shareholders in Tokyo on June 29, 2023. (AFP)
A man arrives to attend Toshiba Corporation's 184th annual general meeting of shareholders in Tokyo on June 29, 2023. (AFP)
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Japan Chip Giant Rohm to Invest $722 Mln in Toshiba Buyout Group 

A man arrives to attend Toshiba Corporation's 184th annual general meeting of shareholders in Tokyo on June 29, 2023. (AFP)
A man arrives to attend Toshiba Corporation's 184th annual general meeting of shareholders in Tokyo on June 29, 2023. (AFP)

Rohm co said on Tuesday it will invest 100 billion yen ($722.33 million) in the group led by Japan Industrial Partners that is launching a tender offer for Toshiba Corp.

Rohm also plans to underwrite 200 billion yen of non-voting preferred stock issued by TBJ Holdings which will be set up by the Japan Industrial Partners for the tender offer of Toshiba.

"Toshiba's semiconductor business is highly compatible with the company," Rohm said of its investment, in a statement.

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Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
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Getty Images and Shutterstock to Merge, Forming $3.7 billion Stock Image Giant

Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo
Craig Peters, CEO of Getty Images, speaks during an interview on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo

Getty Images said on Tuesday it will merge with rival Shutterstock to create a $3.7 billion stock image powerhouse in a deal that would help the companies navigate the AI era, but likely attract antitrust scrutiny.

Shutterstock's shares were up 9.9% in premarket trading, while shares of Getty Images were up 18.7%, according to Reuters.

The combined company will be named Getty Images Holdings Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY".

At close, Getty Images' CEO, Craig Peters, will serve as CEO of the combined company.

Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.