iWorld
Bending Spoons acquires streaming tech firm Brightcove
MUMBAI: Streaming technology firm Brightcove today announced that it has entered into a definitive agreement to be acquired by an Italian mobile technology company Bending Spoons, in an all-cash transaction valued at approximately $233 million. Under the terms of the agreement, Brightcove shareholders will receive $4.45 per share in cash for each share of Brightcove common stock that they own. The per share purchase price represents a 90 per cent premium over Brightcove’s 60-day volume weighted average share price as of the close on 22 November 2024, says a company press release.
The transaction is expected to close in the first half of 2025, subject to customary closing conditions and approvals, including approval by Brightcove’s stockholders, and the receipt of required regulatory approvals. Upon the completion of the transaction, Brightcove will become a privately held company and its common stock will no longer be listed on any public stock exchange.
“We are pleased to have entered into this definitive agreement with Bending Spoons, which represents the culmination of a comprehensive strategic review process led by our board of directors and with the support of our management team and advisors,” said Brightcove chairman Diane Hessan. “As the board considered the long-term path for Brightcove, we unanimously determined that this transaction represents the best opportunity to maximize the value of the business and deliver compelling, certain, and immediate cash value to our stockholders.”
Brightcove chief executive officer & director Marc DeBevoise added: “Brightcove is a storied and successful enterprise SaaS leader with 20 years of history, 12 of them as a public company. 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. Today’s announcement will enable Brightcove to leverage the technology and market expertise of Bending Spoons and best position Brightcove to continue to thrive in the streaming and engagement technology market.”
Bending Spoons CEO & co-founder Luca Ferrari said, “We’re delighted to welcome Brightcove into the Bending Spoons portfolio. Brightcove is a trusted and respected name in the streaming technology space, and we look forward to serving its large global customer base. When Bending Spoons acquires a business, we do so with the intention of owning and operating it indefinitely. With this in mind, we’re excited about building on the strong work of the current team, and ensuring Brightcove thrives for many years to come.”
Bending Spoons already owns products such as Meetup, EverNote, Remini, Splice, StreamYard, Issuu and WeTransfer which it has acquired over the past couple of years. It also has some celebrity investors such as Andre Agassi, Andrew Traggart, Chloe Zhao, Dude Perfect, Eric Shcmidt, Kerry Trainor, Maluma, Gabrielle Union, among many others. It claims to have 200 million monthly active users.
The company is also known to right size companies which it has acquired, according to online tech publication SiliconAngle. Reports are that Evernote laid off 129 of its 400 workforce, relocating the entire workforce to Europe. Bending Spoons also handed pink slips to 75 per cent of WeTransfer’s employees a few months after acquiring it.
iWorld
Banijay Asia’s The 50 tops OTT charts with 8.1 million JioHotstar views
Reality competition becomes most watched show on JioHotstar in debut week.
MUMBAI: Fifty contestants walked into a palace, but millions of viewers showed up for the drama. Reality competition The 50, produced by Banijay Asia, has emerged as the most watched show on JioHotstar, clocking 8.1 million views in its debut week. The figure, reported by Ormax Media, places the show at the top of the OTT viewership charts and marks a strong opening for the digital reality format.
Adapted from a popular French format, The 50 brings together 50 personalities from television, digital platforms, music and reality shows inside a grand palace setting. Over the course of a 50 day competition, participants form alliances, compete in unpredictable tasks and navigate eliminations as the field steadily narrows.
Guiding the game is a mysterious figure known as The Lion, an unseen game master whose voice introduces twists, challenges and strategic turns throughout the show, adding an extra layer of suspense to the contest.
What distinguishes The 50 from typical reality competitions is its audience driven prize structure. Instead of the winner taking home the final reward, the prize is awarded to one of the winner’s registered followers through the show’s dedicated app. The mechanism effectively turns viewers into participants, allowing fans to have a direct stake in the outcome.
The contestant lineup features a mix of television actors, reality stars and digital creators, including Karan Patel, Urvashi Dholakia, Divya Agarwal, Mr Faisu and Dushyant Kukreja, each bringing their own fan following to the show.
With its blend of celebrity personalities, strategic gameplay and interactive viewer participation, The 50 has quickly carved out a strong foothold in India’s digital entertainment landscape. Its 8.1 million views in the opening week underline the growing appetite for large scale reality formats designed specifically for OTT audiences.
