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Brightcove , a cloud platform that helps businesses manage and monetise video mental object , is being necessitate private by Italian technology companyBending Spoonsin an all - hard cash deal valued at $ 233 million .
The transaction cost Brightcove at $ 4.45 per share , translating to a 90 % agio on its 60 - day norm .
Founded out of Boston in 2004 , Brightcove develops pecker and serve for creating , hosting , streaming , marketing , and monetizing video subject matter , with clients admit Marriott Hotels , Ford , and Johnson & Johnson . The company , whichwent publicon the Nasdaqin 2012at$11per share , has n’t had a fruitful time of late — its most late earningsrevealedrevenues were down 2 % on the class previous , while net losses widen by 22 % . Brightcove ’s securities industry cap also hit an all - time low of $ 72 million earlier this year , though it recently rebounded to a 12 - calendar month high of $ 143 million — all in all , though , the company has n’t had a groovy time of it with Wall Street .
“ As the Board considered the long - terminal figure path for Brightcove , we nem con determined that this transaction represents the good opportunity to maximise the value of the business enterprise and surrender compelling , sure , and immediate hard currency value to our shareowner , ” Brightcove board chair Diane Hessan said in astatementissued today .
Bending Spoons , for its part , is aBaillie Gifford - backedmobile app exploitation company that has become known for various famed acquisitions in recent years . This let in Evernote , which itbought in 2022beforelaying off 129of its employees , and WeTransfer , which itbought back in Julyshortly beforesacking 75 % of its 350 - soul manpower .
Elsewhere , turn Spoonsboughtpopularvideo app Filmicin 2022 beforelaying off the full staffa class later on . And in brief afterclosing its acquisitionof biotic community - building platform Meetup in January , Bending Spoons ’ co - father and CEO Luca Ferrariannouncedit was “ importantly reducing ” Meetup ’s U.S. head count .
So there is a light trend from the past mates of year that might not bode well for Brightcove , though it ’s too early to tell what the outcome will be here .
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This latest acquisition , though , signal Bending Spoons ’ entry into the go-ahead SaaS market and represents its first ever acquisition of a in public traded company . Ferrari said that Brightcove is a “ well-thought-of name in the stream technology space , ” allot to the mechanical press release .
“ When stoop Spoons acquires a business , we do so with the intention of possess and work it indefinitely , ” Ferrari order . “ With this in intellect , we ’re excited about build on the secure work of the current team , and see Brightcove prosper for many twelvemonth to arrive . ”
The transaction is expect to close in the first one-half of 2025 and is still dependent to regulative and stockholder blessing .
