US multinational to buy Kerry-based firm for €110m

A Kerry-based company has been snapped up by a US multinational in a deal worth over €110m.

Stockbyte, which was founded in Tralee 10 years ago, supplies photographic images to the advertising and media sectors.

The acquisition by Getty Images means that 28 employees will lose their jobs when the company and its subsidary close their offices in July.

However, workers will receive €5m from their former bosses as part of a golden handshake deal.