Bending Spoons to take video platform Vimeo private in $1.38 billion deal
Technology conglomerate Bending Spoons will buy Vimeo for about $1.38 billion in cash and take it private, the companies said on Wednesday, sending the online video platform’s shares soaring more than 60% in morning trading.
Vimeo shareholders will get $7.85 in cash for each share they own – a 63% premium to the stock’s last close.
The companies said the deal is expected to conclude in the fourth quarter this year.
