Bending Spoons to acquire Vimeo in $1.38B deal

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Talks about the acquisition have been ongoing since last year, Bloomberg reported. Under the deal, Vimeo shareholders will receive $7.85 per share.

Unicorn Bending Spoons plans to expand Vimeo’s product across over-the-top streaming and for enterprise customers, Philip Moyer, Vimeo CEO said. Moyer added: “We are excited about this partnership, which we believe will unlock even greater focus for our team and customers."

Luca Ferrari, Bending Spoons CEO and co-founder, said: “At Bending Spoons, we acquire companies with the expectation of owning and operating them indefinitely, and we look forward to realising Vimeo’s full potential as we reach new heights together.

"We’re determined to make ambitious investments in the US and other priority markets, and all key areas of the business, spanning both the creator and enterprise offerings.”

Founded in 2013, Bending Spoons is known for acquiring tech startups and working to improve their financial performance, sometimes through staff reductions. Its past acquisitions include WeTransfer, Evernote, MeetUp, Brightcove, and Komoot.

About Vimeo

Vimeo is a leading platform for creating and sharing video experiences. They help anyone make high-quality videos to connect, share ideas, and tell stories. Their community includes millions of users from individual creators to teams at some of the world’s biggest companies whose videos are watched billions of times every month.