Two of the world’s biggest visual content marketplaces, Getty Images and Shutterstock, are merging.

Getty Images and Shutterstock are teaming up in what Getty called a merger of equals. The combination will create a company with an enterprise value of $3.7 billion.

Getty Images is buying Shutterstock to create a $3.7 billion visual content company. The merger comes at a time when companies that use still images are facing increased competition from images generated by artificial intelligence. The companies said Tuesday that they have complementary portfolios and that a merger will provide…

Getty Images is buying Shutterstock to create a $3.7 billion visual content company.