Is it possible to have two overlapping PictureBox controls with transparent images?

Question

Having two overlapping PictureBox controls, I'm trying to make the transparent areas of the picture box let the controls below (in the z-order) being visible.

Even after trying what Microsoft suggests, I cannot get the desired result.

This is what I currently have:

And this is what I want:

So my question is:

Any way to achieve my desired result with two PictureBox controls (or with another way) that overlap each other and let the transparent areas shine through?

Update:

Actually I solved it by using this answer to the the SO question "Transparent images with C# WinForms".

Answer 1

Try this

private void Form1_Load(object sender, EventArgs e)
{
  // Transparent background...  
  pictureBoxOverlay.BackColor = Color.Transparent;

  // Change parent for overlay PictureBox...
  pictureBoxOverlay.Parent    = pictureBoxMain;

 // Change overlay PictureBox position in new parent...
 // pictureBoxOverlay.Location  = new Point(0, 0);
}

Result

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