Vimeo video platform announced On Wednesday, that it has agreed to be acquired by the bending of the spoons, one of the largest European mobile application developers, in an all-cash deal, worth about $ 1.38 billion.
The agreement is expected to close in the fourth quarter of 2025, without prejudice to the usual closing conditions and regulatory approvals. Vimeo will be deleted from exchanges as soon as the deal is closed.
The announcement comes as a bending spoons interested in a Possible acquisition of Vimeo As early as March 2024.
“During the bending spoons, we acquire companies with the expectation of holding and exploiting them indefinitely and looking forward to realizing Vimeo’s full potential as we reach new heights together,” Breming Spoons and co -founder Luca Ferrari told A A. Press Release.
“Specifically, after the closure, we are determined to make ambitious investment in US and other priority markets and in all the basic sectors of the business, covering both the creator and business offers,” he continued. “We will focus on achieving even more stellar levels of performance and credibility, offering advanced features to more customers and continuing to release strong and responsible AI features.”
Bending spoons have a standard of acquiring companies, then eliminate the staff and cutting features. For example, the bending spoons acquired the implementation of points management and Evernote Management in 2022, after which Company was fired Most of the US and Chilean staff and moved businesses to Europe in 2023. Evernote then Finish the Linux versions and older legacies of the application and then proceeded Place heavy restrictions at the free level of the application in 2024.
In another example, the bending spoons acquired Wetransfer in July 2024 and then fired 75% of his staff a few weeks later. A few months later, Wetransfer began limiting free users to 10 transfers per month.
Founded in 2004, Vimeo Rotate from IAC (Interactivecorp) In 2021, to become an independent, public negotiation. Since then, the company has lost almost 90% of its market value, prompting leadership to consider strategic choices, according to Parachute.
Vimeo CEO Philip Moyer told the press release that the bending spoons are committed to expanding Vimeo’s product to all departments, which include self -service, OTT/Vimeo Streaming and Vimeo Enterprise.
“We are excited about this partnership, which we believe will unlock even greater emphasis on our team and customers, as we continue to compete for our global mission to be the most innovative and reliable video platform in the world for businesses,” Moyer said.
