Streaming technology company Brightcove is to go private after agreeing to a $233 million acquisition by Italian tech giant Bending Spoons.
The two companies have entered into a definitive agreement, with the deal expected to close in the first half of 2025. Upon the completion of the transaction, Brightcove will become a privately held company.
Italy-based Bending Spoons’ suite of digital technology products includes Evernote, Issuu, Meetup, Remini, StreamYard, Splice, and WeTransfer. Its products are currently used by more than 200 million people each month, said the company.
Speaking about the deal, Marc DeBevoise, Brightcove’s chief executive officer, said, “Brightcove is a storied and successful enterprise SaaS leader with 20 years of history, 12 of them as a public company. We have been a pioneer and innovator in the streaming market, from the early days of video player technologies to the leading video-powered engagement platform we are today. Today’s announcement will enable Brightcove to leverage the technology and market expertise of Bending Spoons and best position Brightcove to continue to thrive in the streaming and engagement technology market.”
Luca Ferrari, Bending Spoons CEO and co-founder, added, “We’re delighted to welcome Brightcove into the Bending Spoons portfolio. Brightcove is a trusted and respected name in the streaming technology space, and we look forward to serving its large global customer base. When Bending Spoons acquires a business, we do so with the intention of owning and operating it indefinitely. With this in mind, we’re excited about building on the strong work of the current team, and ensuring Brightcove thrives for many years to come.”
