KUALA LUMPUR, Sept 11 (Bernama) -- Vimeo Inc, a video platform for business, has entered into a definitive agreement to be acquired by Bending Spoons in an all-cash transaction valued at approximately US$1.38 billion. (US$1=RM4.20)
Under the terms of the agreement, Vimeo shareholders will receive US$7.85 per share in cash, representing a 91 per cent premium over the company’s 60-day average share price, signalling a strong vote of confidence from the buyer.
Vimeo Board Chairman, Glenn H. Schiffman said this deal delivers compelling, certain value to shareholders and accelerates the company’s roadmap.
“We are confident they are the right long-term partner for our customers, employees, and brand,” he added in a statement.
Vimeo chief executive officer (CEO), Philip Moyer called the move “an exciting partnership” and praised Bending Spoons’ intent to invest heavily across all segments of the business, including over-the-top (OTT) streaming and enterprise video solutions.
Meanwhile, Bending Spoons CEO and co-founder, Luca Ferrari said the company is in it for the long haul, pledging long-term investment and a focus on scaling Vimeo’s artificial intelligence-enabled features, performance, and reliability.
The acquisition marks a pivotal turn for the video platform, which will go private following the deal’s expected close in the fourth quarter of 2025, pending shareholder and regulatory approvals.
Following the acquisition, Vimeo’s stock will be delisted, and the company will cease earnings calls for the third quarter of this year, although it will continue regulatory reporting through the closing period.
Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal advisers to Vimeo, and Allen & Company LLC as financial advisors, while Latham & Watkins LLP is serving as legal adviser to Bending Spoons. J.P. Morgan and Wells Fargo acted as joint lead financial advisers, and BNP acted as financial adviser.
-- BERNAMA
