Highlights:

  • Bending Spoons, an Italian company based in Milan that was founded in 2013, is most renowned for the mobile apps it creates and purchases.
  • Brightcove will become a privately held corporation after the deal is finalized.

An Italian mobile technology business, Bending Spoons S.p.A. acquired Brightcove Inc., a cloud platform that assists businesses in managing host, publishing, and delivering on-demand video. The cash deal happened for a staggering USD 233 million.

The agreement states that Brightcove stockholders will get USD 4.46 in cash per share, which is 90% more than the company’s 60-day average.

Brightcove’s most well-known offerings include ways for businesses to monetize their streaming video and on-demand video for live events and catalogs to show to consumers. Additionally, it offers the infrastructure and resources required to develop players that resemble television channels, enabling users to enjoy high-fidelity and first-rate video. On the back end, it strikes a mix between high-level data analytics to let users know how their content is being seen and digital rights management to regulate viewing rights.

Bending Spoons, an Italian company based in Milan that was founded in 2013, is most renowned for the mobile apps it creates and purchases. Evernote Corp., a business established in 2000 that effectively provided a notetaking and collaboration tool composed of virtual notebooks, was one noteworthy acquisition the company made. In 2023, Bending Spoons completed the transaction.

In 2024, the business made a lot of acquisitions. It purchased Meetup, a social networking platform for planning both virtual and in-person meetings, in January. In April, it purchased StreamYard Top Corp., a platform for livestreaming and capturing videos that was formerly known as Hopin. It agreed to purchase the Dutch file sharing provider WeTransfer B.V. in July and purchased the digital publishing platform Issuu Inc.

Brightcove will become a privately held corporation after the deal is finalized.

“Brightcove is a storied and successful enterprise SaaS leader with 20 years of history, 12 of them as a public company,” said Marc DeBevoise, Brightcove’s Chief Executive and Board Director. “We have been a pioneer and innovator in the streaming market, from the early days of video player technologies to the leading video-powered engagement platform we are today.”

“Brightcove is a trusted and respected name in the streaming technology space, and we look forward to serving its large global customer base,” said Luca Ferrari, Bending Spoons’ Co-founder and Chief Executive. “When Bending Spoons acquires a business, we do so with the intention of owning and operating it indefinitely.”

Bending Spoons is also notorious for making large layoffs following acquisitions. After its acquisition, Evernote moved all 400 employees to Europe and laid off 129 of them. In September, the company also laid off 75% of WeTransfer’s employees.