Toronto’s Masterfile acquired for $21 Million

Late last week Arius3D Corp. announced that it is acquiring Toronto’s Masterfile Corporation for $21 Million.

Headquartered in Toronto, Masterfile is one of the world’s largest providers of premium still images, in terms of revenues.

Masterfile was created within a subsidiary of the Toronto Sun in 1981 and managed by Steve Pigeon until it was sold by the Toronto Sun to Mr. Pigeon and a consortium of employees and contributing photographers in 1984. Since its founding, Masterfile’s growth has been primarily organic, and today it has approximately 100 employees worldwide.

With the acquisition of Masterfile, it is believed that Arius3D will be the only image distributor in the world offering traditional 2D images together with high resolution 3D images.