Brightcove to be acquired by Bending Spoons for $233 million

Brightcove has announced its acquisition by Bending Spoons, a prominent digital technology company. Valued at approximately $233 million, the all-cash transaction promises significant growth opportunities and strategic advancements for both companies. Brightcove shareholders are set to receive $4.45 per share, a figure representing an impressive 90% premium over the company’s 60-day volume-weighted average share price as of November 22, 2024.

Diane Hessan, Chairman of Brightcove’s Board of Directors, expressed confidence in the deal, describing it as the culmination of a rigorous strategic review process. “This agreement represents the best opportunity to maximize the value of the business while delivering compelling and immediate cash value to our stockholders,” she stated.

Echoing this sentiment, Marc DeBevoise, Brightcove’s Chief Executive Officer, highlighted the company’s legacy as a pioneer in the streaming sector. “For two decades, Brightcove has led the industry, evolving from early video player technologies to today’s leading video engagement platform. Joining forces with Bending Spoons positions us to build upon this legacy and thrive in an ever-competitive market,” he said.

Luca Ferrari, CEO and co-founder of Bending Spoons, emphasized the company’s dedication to long-term investments. “We’re thrilled to bring Brightcove into our portfolio. With its strong reputation and global customer base, we see immense potential for growth and innovation. Our intention is to nurture Brightcove’s success for years to come,” Ferrari noted.

This acquisition also marks Bending Spoons’ expansion into the enterprise SaaS market, further solidifying its reputation as a digital innovation powerhouse. The company, already renowned for its technology products like Remini, StreamYard, and WeTransfer, plans to leverage its expertise to enhance Brightcove’s platform and global reach.

The acquisition, unanimously approved by Brightcove’s Board of Directors, is slated for completion in the first half of 2025, subject to regulatory and stockholder approvals. Upon closing, Brightcove will transition to a privately held entity, delisting its shares from public trading.

Bending Spoons, serving over 200 million monthly users, has built a formidable reputation with its diverse portfolio of digital tools. By combining Brightcove’s technology with its own expertise, Bending Spoons aims to shape the future of enterprise streaming.