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

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.

Key Takeaways Getty Images and Shutterstock are teaming up in what Getty called a merger of equals.The deal between the two providers of stock images and video is designed to meet the changing needs of the creative,