BOSTON: Bending Spoons, an Italy-based technology company, has finalized its acquisition of U.S.-based streaming technology firm Brightcove Inc. (NASDAQ: BCOV) in an all-cash transaction valued at approximately $233 million, or $4.45 per share. The definitive acquisition agreement was signed in November 2024.
Luca Ferrari, CEO and co-founder of Bending Spoons, expressed enthusiasm about the acquisition. “It’s with great pleasure, and a deep sense of responsibility, that we can now welcome Brightcove into the Bending Spoons portfolio of leading digital businesses. We look forward to learning from the current Brightcove team, and are confident that the expertise we’ve accumulated and the proprietary technologies we’ve developed at Bending Spoons will help Brightcove reach new heights. We intend to own and operate Brightcove for the long-term, providing significant value to its large global customer base for many years to come,” Ferrari said.
Brightcove CEO and Director Marc DeBevoise highlighted the company’s achievements and future prospects. “Brightcove has been a successful SaaS leader for 20 years, as an early pioneer and innovator in the streaming market and now as a leading video-powered engagement platform. Brightcove’s management team and board are pleased to have delivered this valuable result for shareholders while positioning Brightcove to continue to thrive into the future as part of Bending Spoons,” DeBevoise said.
The transaction, which received unanimous approval from Brightcove’s Board of Directors in November 2024, has now closed following the fulfillment of all required conditions, including stockholder approval. As a result, Brightcove is now a privately held company, and its common stock will no longer be listed on any public exchange.
Lazard Frères & Co. LLC served as the exclusive financial advisor to Brightcove, and Goodwin Procter LLP served as its legal advisor. Latham & Watkins LLP served as the legal advisor to Bending Spoons, with EY Advisory SpA providing financial and tax due diligence services. J.P. Morgan and Wells Fargo served as M&A advisors for Bending Spoons.
Brightcove is known for creating reliable, scalable, and secure streaming technology solutions that connect companies with their audiences across various devices. With operations in over 60 countries, Brightcove’s video engagement platform helps businesses, media leaders, and organizations communicate and monetize content more effectively. The company has received two Technology and Engineering Emmy® Awards for innovation and industry-leading uptime.
Bending Spoons, whose products are used by over 300 million people each month, has served a billion individuals globally through its suite of digital technology businesses, including Evernote, Issuu, Meetup, Remini, StreamYard, Splice, and WeTransfer.