Brightcove, a cloud platform that helps businesses manage and monetize video content, is being taken private by Italian technology company Bending Spoons, in a deal valued at $233 million.
Founded in 2004, Brightcove develops tools and services for creating, hosting, streaming, marketing, and monetizing video content, with clients including Marriott Hotels, Ford, and Johnson & Johnson.
Bending Spoons, for its part, is a Baillie Gifford-backed mobile app development company that has become known for various notable acquisitions in recent years. This includes Evernote, which it bought in 2022 before laying off 129 of its employees; and WeTransfer, which it bought back in July shortly before sacking 75% of its 350 workforce. Elsewhere, Bending Spoons bought popular video app Filmic in 2022, before laying off the entirety of the staff a year later, and shortly after closing its acquisition of community-building platform Meetup in January this year, Bending Spoons’ CEO Luca Ferrari significantly reducing the size of the US-based team. it was “significantly reducing” Meetup’s U.S. headcount.
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