Getty Images has launched a new division for the licensing of its multimedia content and also has acquired another stock image company, reports CNET.

Getty has purchased PunchStock, which provides easy-to-understand licensing agreements and search capabilities. This is the third unit of its kind that Getty has acquired in the recent past. Just last week it bought MediaVest, and Scoopt was acquired in March. In 2006 it added iStockPhoto to its holdings.

The new group for selling licenses to Getty's multimedia content will be headed by former MediaVest exec Craig Peters.