Getty Images

Getty Images Inc. higher by 30% as buyout confirmed by PE firm

Seattle-based Getty Images Inc. said on Monday that a private equity firm Hellman and Friedman LLC. has agreed to buy the company for US $2.1 billion at a price of $34 per share. Getty Images closed at $24.45 on Friday.

The stock was up by 30% in early trades and touched a high of $32.19. The total volume traded till 11.48 a.m. ET was 5.25 million. The stock touched a low of $21.80 on January 18, 2008.

Technical analyst Malindi Davies said that Hellman and Friedman LLC. has offered a fair valuation for Getty Images Inc. stock.