Brightcove Inc., a cloud platform that helps businesses manage host, publish and deliver on-demand video, today announced that it’s being acquired by Italian mobile technology company Bending Spoons S.p.A. in a $233 million all-cash deal.

According to the agreement, Brightcove shareholders will receive $4.46 per share in cash, representing a 90% premium over the company’s 60-day average.

Brightcove is best known for providing video on-demand for both live events and catalogs to present to viewers as well as ways for businesses to make money from their streaming video. It also provides the tools and infrastructure needed to create television channel-like players so users can experience video with high fidelity and excellent service. On the back end, it balances digital rights management to control viewership rights along with high-level data analytics to allow users to understand how their video is being consumed.

Founded in 2013 and based in Milan, Italy, Bending Spoons is best known for the mobile applications that it develops and acquires. One notable acquisition made by the company was Evernote Corp., a company founded in 2000 that offered essentially a note-taking and collaboration app made up of virtual notebooks. Bending Spoons sealed the deal in 2023.

The company made a flurry of acquisitions in 2024. In January, it acquired Meetup, a social media platform for organizing in-person and virtual meetings, and in April it picked up StreamYard Top Corp., originally known as Hopin, a video livestreaming and recording platform. In July it acquired the digital publishing platform Issuu Inc. and agreed to acquire the Dutch file transfer service WeTransfer B.V.

Upon completion of the transaction, Brightcove will become a privately held company.

“Brightcove is a storied and successful enterprise SaaS leader with 20 years of history, 12 of them as a public company,” said Marc DeBevoise, Brightcove’s chief executive and board director. “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.”

“Brightcove is a trusted and respected name in the streaming technology space, and we look forward to serving its large global customer base,” said Luca Ferrari, Bending Spoons’ co-founder and chief executive. “When Bending Spoons acquires a business, we do so with the intention of owning and operating it indefinitely.”

However, Bending Spoons is also well-known for significant layoffs after acquiring companies. After its acquisition, Evernote laid off 129 of its 400-member workforce and relocated the entire staff to Europe. The company also let go of 75% of WeTransfer’s staff in September.

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