Monotype, a publicly traded company focused on font design and technology, announced today that it’s acquiring Olapic, a startup that helps brands promote themselves with user-generated photos.
The deal is expected to close in the third quarter of this year — at that point, Olapic will operate as a division of Monotype. The purchase price is $130 million, plus $19 million in Monotype stock that will vest over time.
“Olapic will extend Monotype’s ability to help brands express their story and engage with customers in a richer, more impactful way,” said Monotype CEO Scott Landers in the acquisition release. “Our value has always been predicated on type, technology and expertise, and Olapic strengthens us on all three fronts. ”
Olapic previously raised around $21 million in funding, according to CrunchBase, from investors including Felix Capital and Fung Capital. It recently acquired Pinterest-focused marketing startup Piqora.