Bending Spoons announces that it has completed the acquisition of US streaming technology company Brightcove at a price of $4.45 per share, representing a total value of approximately $233 million, in an all-cash deal. The final acquisition agreement was signed in November 2024, as we wrote here.
Luca Ferrari, CEO and co-founder of Bending Spoons (pictured), said in a note: “It is with great pleasure, and a deep sense of responsibility, that we welcome Brightcove to our portfolio of industry-leading digital businesses. We look forward to learning from the current Brightcove team and are confident that the experience gained and proprietary technologies developed by Bending Spoons will help Brightcove reach new heights. We intend to run Brightcove for the long term, delivering great value to its broad customer base around the world for many years to come.”
Marc DeBevoise, CEO and director of Brightcove, says: “Brightcove has been a leading SaaS company for 20 years, a pioneer and innovator in the streaming industry, and today a leader in video-based engagement solutions. Brightcove’s management team and board of directors are delighted to have achieved this important result for shareholders, while ensuring a future of growth for Brightcove within Bending Spoons.”
The transaction was unanimously approved by Brightcove’s Board of Directors in November 2024 and was completed today after all necessary conditions were met, including approval by Brightcove’s shareholders. As a consequence of the acquisition, Brightcove has become a private company and its shares will no longer be listed on the stock exchange.
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