The company behind Evernote and WeTransfer has agreed to acquire Brightcove for $233 million.
The all-cash deal represents a premium of 40% on the previous closing shareprice.
“We are pleased to have entered into this definitive agreement with Bending Spoons, which represents the culmination of a comprehensive strategic review process led by our Board of Directors and with the support of our management team and advisors,” said Diane Hessan, Chairman of Brightcove’s Board of Directors. “As the Board considered the long-term path for Brightcove, we unanimously determined that this transaction represents the best opportunity to maximize the value of the business and deliver compelling, certain, and immediate cash value to our stockholders.”
Last July, the Italian app developer bought file-sharing platform WeTransfer and digital publishing platform Issuu.
Luca Ferrari, Bending Spoons CEO and co-founder, said, “We’re delighted to welcome Brightcove into the Bending Spoons portfolio. Brightcove is a trusted and respected name in the streaming technology space, and we look forward to serving its large global customer base. When Bending Spoons acquires a business, we do so with the intention of owning and operating it indefinitely. With this in mind, we’re excited about building on the strong work of the current team, and ensuring Brightcove thrives for many years to come.”
Once the transaction is completed, Brightcove will be delisted, and it will become a privately held company.
The deal is subject to formal approval by Brightcove’s stockholders and regulatory approval.
