Brightcove to Be Acquired by Bending Spoons for $233 Million

Deal News | Nov 26, 2024 | Globenewswire

Brightcove to Be Acquired by Bending Spoons for $233 Million

Brightcove, Inc., a portfolio company of 180 Degree Capital Corp., has entered into a definitive agreement to be acquired by Bending Spoons for approximately $233 million, equating to $4.45 per share. 180 Degree Capital, which owned about 1.35 million shares of Brightcove, expressed satisfaction with the acquisition, crediting the value-creating potential of Brightcove under its leadership and management. This transaction aligns with 180 Degree Capital's strategy of investing in undervalued companies with prospects for significant turnarounds. The company views this acquisition as validation of their investment thesis, underscoring their focus on constructive activism to drive share price improvement. This acquisition represents a significant event for 180 Degree Capital's portfolio and strategy, offering the possibility of potential additional value-creating events in the future.

Sectors

  • Private Equity
  • Technology - Media

Geography

  • United States – Both 180 Degree Capital and Brightcove are based in the United States, indicating the geographical focus of this transaction.

Industry

  • Private Equity – 180 Degree Capital operates as a private equity firm focusing on undervalued companies, and their involvement with Brightcove epitomizes typical private equity investment and exit activities.
  • Technology - Media – Brightcove, Inc. is a media technology company, focusing on cloud solutions for video hosting and streaming, making it a relevant player in the technology and media sectors.

Financials

  • $233 million – The acquisition price Bending Spoons agreed to pay for Brightcove, Inc., equating to $4.45 per share.

Participants

NameRoleTypeDescription
Brightcove, Inc.TargetCompanyBrightcove, Inc. is a leading provider of cloud solutions for video, offering technologies that power video experiences on any device.
180 Degree Capital Corp.InvestorCompanyA publicly traded registered closed-end fund focused on investing in undervalued small, publicly traded companies with potential for significant turnarounds.
Bending SpoonsBidding CompanyCompanyBending Spoons is a technology company known for developing consumer-facing mobile applications, based in Milan, Italy.