Bending Spoons To Take Brightcove Private In $233 Mln All-cash Deal

(RTTNews) - Streaming technology company Brightcove, Inc. (BCOV), announced Monday that it has entered into a definitive agreement to be acquired by Italian software company Bending Spoons S.p.A, in an all-cash transaction valued at approximately $233 million.

Under the terms of the agreement, Brightcove shareholders will receive $4.45 per share in cash for each share of Brightcove common stock that they own.

The per share consideration represents a 90% premium over Brightcove's 60-day volume weighted average share price as of the close on November 22, 2024.

The transaction, which was unanimously approved by Brightcove's Board of Directors, is expected to close in the first half of 2025, subject to customary closing conditions and approvals, including approval by Brightcove's stockholders, and the receipt of required regulatory approvals.

Upon the completion of the transaction, Brightcove will become a privately held company and its common stock will no longer be listed on any public stock exchange.