Video -Platform Vimeo announced On Wednesday it was agreed to be taken over by Spoels, one of Europe’s largest developers for mobile apps, in a deal with a full contract with a value of around $ 1.38 billion.
The deal is expected to close in the fourth quarter of 2025, depending on the usual closing conditions and approvals of the regulations. Vimeo is removed from stock exchanges as soon as the deal is closed.
The announcement is because the bending of spoons was interested in one Potential takeover of Vimeo Already in March 2024.
“When bending spoons, we acquire companies with the expectation of owning and operating them for an indefinite period of time, and we look forward to realizing the full potential of Vimeo when we reach new heights together,” said Bending Spoons CEO and co-founder Luca Ferrari in one press release.
“In particular, after closing, we are determined to make ambitious investments in the US and other priority markets, and all important areas of the company, which include both the maker and the business offer,” he continued. “We will concentrate on achieving even more excellent performance and reliability, bringing advanced functions to more customers and continue to release powerful and responsible functions.”
Bending spoons has a pattern of acquiring companies, taking staff and cutting functions. For example, bending Lepels acquired notes and task management app Evernote Evernote in 2022, after which the Company dismissed Most of his American and Chile staff and moved operations to Europe in 2023. Evernote then Close the Linux and older Legacy versions of the app, and then passed Place heavy limitations On the free layer of the app in 2024.
In another example, Wetpels won Wettransfer in July 2024 and then fired 75% of his staff a few weeks later. A few months later, WeTransfer started to limit free users to 10 transfers per month.
Founded in 2004, Vimeo Spring from IAC (InteractiCorp) In 2021, become an independent, listed company. Since then, the company has lost almost 90% of its market value, making it leadership to consider strategic options, according to Bloomberg.
Vimeo CEO Philip Moyer said in the press release that Bending Spoons is committed to expanding Vimeo’s product in all segments, including self -service, streaming from Ott/Vimeo and Vimeo Enterprise.
“We are enthusiastic about this partnership that we think it will unlock an even greater focus for our team and customers, while we continue to strive for our global mission to be the most innovative and trusted video platform in the world for companies,” said Moyer.
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