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.