In a significant move shaking up the streaming technology industry, Brightcove Inc., a global leader in secure video streaming, has agreed to go private in a $233 million acquisition deal. The company, advised by Goodwin Procter LLP, will be purchased by software giant Bending Spoons in an all-cash transaction. The deal will provide Brightcove shareholders with $4.45 per share, representing a staggering 90% premium over the company’s stock price as of November 22.
A Major Step for Brightcove and Its Shareholders
The transaction marks the culmination of a lengthy strategic review, with the Brightcove board of directors and management concluding that selling to Bending Spoons was the best path forward to maximize shareholder value. Brightcove’s board chair, Diane Hessan, expressed confidence in the deal’s potential to provide “compelling, certain, and immediate cash value” to the company’s investors.
“After careful consideration of our options, we firmly believe that this transaction delivers the most substantial opportunity for Brightcove’s future,” said Hessan.
