Brightcove Transitions to Private with Bending Spoons Acquisition
Deal News | Feb 04, 2025 | Legal Community Italy
Bending Spoons, an Italian technology company, has completed the acquisition of Brightcove, a US-based leader in video streaming technology. The acquisition, first agreed upon in November 2024 and unanimously approved by Brightcove's Board of Directors, had a total value of approximately $233 million. The transaction has led to Brightcove becoming a private company with its shares no longer listed on Nasdaq. Bending Spoons was advised legally by Latham & Watkins, with financial due diligence conducted by EY, and JP Morgan and Wells Fargo providing M&A advisory services. Brightcove was legally supported by Goodwin Procter and received financial advice from Lazard.
Sectors
- Technology
- Legal Services
- Financial Services
Geography
- Italy – Bending Spoons is an Italian technology company, involved in acquiring Brightcove.
- United States – Brightcove is a US-based company, and the acquisition moves its status to a private company state.
Industry
- Technology – Bending Spoons and Brightcove are both companies operating in the technology sector, specifically in app development and streaming technology, respectively.
- Legal Services – The involvement of law firms Latham & Watkins and Goodwin Procter highlights the legal advisory industry's role in the transaction.
- Financial Services – Financial advisory roles were played by EY, JP Morgan, Wells Fargo, and Lazard, which are prominent firms in the financial services sector.
Financials
- 233,000,000 – The acquisition deal value for Bending Spoons acquiring Brightcove.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bending Spoons | Bidding Company | Company | An Italian technology company focused on app development. |
| Brightcove | Target Company | Company | A US-based company specializing in streaming technology. |
| Latham & Watkins | Legal Advisor | Company | Provided legal advice to Bending Spoons. |
| EY | Financial & Tax Due Diligence | Company | Conducted the financial and tax due diligence for the acquisition. |
| JP Morgan | M&A Advisor | Company | Served as an advisor for Bending Spoons on the acquisition. |
| Wells Fargo | M&A Advisor | Company | Served as an advisor for Bending Spoons on the acquisition. |
| Goodwin Procter | Legal Advisor | Company | Provided legal guidance to Brightcove during the transaction. |
| Lazard | Financial Advisor | Company | Acted as a financial advisor to Brightcove in the acquisition deal. |