Brightcove, a Boston-based cloud platform specialising in video content management and monetisation, is being acquired by Italian tech firm Bending Spoons in an all-cash deal valued at $233 million. The purchase price of $4.45 per share marks a 90% premium over Brightcove’s 60-day average.
Founded in 2004, Brightcove serves major clients like Marriott, Ford, and Johnson & Johnson, providing tools for video creation, hosting, and marketing. Despite going public on Nasdaq in 2012 at $11 per share, the company has faced financial struggles, with recent earnings showing a 2% revenue decline and a 22% increase in net losses.
Bending Spoons, backed by Baillie Gifford, has a history of controversial acquisitions, including Evernote and WeTransfer, followed by significant workforce reductions. The Brightcove deal marks its entry into the enterprise SaaS market and its first purchase of a publicly traded company.
Bending Spoons CEO Luca Ferrari emphasised plans for long-term ownership and growth, stating Brightcove is a “respected name in streaming technology.” The acquisition is expected to finalise by mid-2025, pending regulatory and shareholder approval.
Brightcove’s board chair, Diane Hessan, highlighted the deal as the best path to maximise shareholder value.
