Italian unicorn Bending Spoons has agreed to acquire US online video platform Vimeo in an all-cash deal worth $1.38bn.
Milan-based Bending Spoons, a mobile app developer, had been in talks with banks about financing a potential takeover of Vimeo as far back as March 2024, Bloomberg reported at the time.
The deal is expected to complete by the end of the year, pending regulatory approval. Vimeo stockholders will receive $7.85 per share, more than the $4.82 share the company was valued at when markets closed on Tuesday.
“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,” Bending Spoons CEO Luca Ferrari said in a statement.
Bending Spoons is a major acquirer: it has bought around 50 startups since launching in 2013, including cycling and hiking app Komoot, streaming platform Brightcove, file transfer platform WeTransfer and note app Evernote.
In August, the company secured more €500m in debt financing to fuel future acquisitions. Big-name backers like JPMorgan and Goldman Sachs underwrote the debt.
In an interview with Sifted, Ferrari said the company is expecting to make revenue north of $1.1bn this year — and all of its businesses are profitable.
Ferrari also told Sifted in April that Bending Spoons had over $1bn to spend on at least three further acquisitions before the end of the year. The extra €500m is to “grow even faster”, the company confirmed in an email.
