Bending Spoons, the Italy-based technology company, completed its previously announced acquisition of US-based streaming technology company Brightcove Inc. (NASDAQ: BCOV) for $4.45 per share (or approximately $233 million), in an all-cash transaction. The definitive acquisition agreement was entered into in November 2024.
Luca Ferrari, the Bending Spoons CEO and co-founder, today said of the acquisition: “It’s with great pleasure, and a deep sense of responsibility, that we can now welcome Brightcove into the Bending Spoons portfolio of leading digital businesses. We look forward to learning from the current Brightcove team, and are confident that the expertise we’ve accumulated and the proprietary technologies we’ve developed at Bending Spoons will help Brightcove reach new heights. We intend to own and operate Brightcove for the long-term, providing significant value to its large global customer base for many years to come.”
Marc DeBevoise, Brightcove’s CEO and Director, today said: “Brightcove has been a successful SaaS leader for 20 years, as an early pioneer and innovator in the streaming market and now as a leading video-powered engagement platform. Brightcove’s management team and board are pleased to have delivered this valuable result for shareholders while positioning Brightcove to continue to thrive into the future as part of Bending Spoons.”
Transaction details
The transaction was unanimously approved by Brightcove’s Board of Directors in November 2024, and has closed today following the satisfaction of all the required conditions, including approval by Brightcove’s stockholders. As a consequence of the acquisition, Brightcove has become a privately held company, and its common stock will no longer be listed on any public stock exchange.
Advisors
Lazard Frères & Co. LLC served as exclusive financial advisor to Brightcove, and Goodwin Procter LLP served as the company’s legal advisor.
Latham & Watkins LLP served as legal advisor to Bending Spoons. EY Advisory SpA provided financial and tax due diligence services. J.P. Morgan and Wells Fargo served as the company’s M&A advisors.
