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Italy's Bending Spoons to take Brightcove private in $233 mln deal
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Italy's Bending Spoons to take Brightcove private in $233 mln deal
Nov 25, 2024 12:39 PM

Nov 25 (Reuters) - Cloud-based streaming platform

Brightcove ( BCOV ) said on Monday Bending Spoons will buy the

company in a transaction valued at about $233 million, adding to

a string of deals by the Italian tech firm as it looks to

bolster its app portfolio.

The all-cash, take-private deal values each share of the

Boston, Massachusetts-based company at $4.45, representing a

premium of close to 40% to the stock's last closing price.

Bending Spoons, which owns services such as note-taking tool

Evernote and photo editor Remini, has been pressing ahead with

acquisitions throughout the year.

The Italian app developer bought file-sharing platform

WeTransfer and digital publishing platform Issuu in July.

Bending Spoons is also seen as a potential candidate for a

public listing, owing to its multiple buyouts, Reuters reported

last month.

Brightcove ( BCOV ), which allows media companies and enterprises to

monetize content through streaming, said the deal would enable

it to leverage the technology and market expertise of Bending

Spoons.

The transaction is expected to close in the first half of

2025.

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