(Finance) – Brightcovean American company listed on the Nasdaq and active in the field of streaming technology, has entered into a definitive agreement to be acquired by Bending Spoonsan Italian company that has become a global leader in the development and marketing of smartphone apps, in an all-cash transaction valued at approximately 233 million dollars.
Under the terms of the agreement, Brightcove shareholders will receive $4.45 per share in cash for each share of Brightcove common stock owned. The purchase price per share represents a 90% premium to Brightcove’s 60-day volume-weighted average price as of the close on November 22, 2024.
“We are delighted to welcome Brightcove to the Bending Spoons portfolio,” he commented Luca Ferrari, CEO and co-founder by Bending Spoons – Brightcove is a trusted and respected name in the streaming technology industry and we look forward to serving its large global customer base. When Bending Spoons acquires a company, we do so with the intention to own and manage it in time indeterminate. With this in mind, we are excited to continue to build on the solid work of the current team and ensure Brightcove thrives for many years to come.”
The transaction, approved unanimously by the Brightcove board, should conclude in the first half of 2025subject to customary closing conditions and approvals, including approval of Brightcove shareholders and receipt of necessary regulatory approvals. Upon completion of the transaction, Brightcove will become a private company and its common shares will no longer be listed on any stock exchange.