Digital technology company Bending Spoons announced on Tuesday a definitive agreement to acquire Vimeo in an all-cash transaction valued at approximately $1.38 billion. This means Vimeo shareholders will receive $7.85 in cash for each share of common stock. This purchase price represents a significant 91% premium over Vimeo’s 60-day volume-weighted average share price as of September 9th's market close.
The deal, unanimously approved by Vimeo’s board of directors, will transition Vimeo into a privately held entity. Consequently, its shares will be delisted from all public stock exchanges. Glenn H. Schiffman, chairman of Vimeo's board, stated that the agreement followed a thorough strategic review. “After a disciplined review of strategic alternatives, the board unanimously determined that this all-cash transaction delivers compelling, certain value to Vimeo shareholders and positions the company to accelerate its strategic roadmap as part of Bending Spoons,” Schiffman said.
Vimeo CEO Philip Moyer expressed enthusiasm about the long-term opportunities presented by the partnership with Bending Spoons across its various segments. “We are excited about this partnership, which we believe will unlock even greater focus for our team and customers,” Moyer commented. Luca Ferrari, CEO and co-founder of Bending Spoons, highlighted Vimeo's integration into their existing portfolio, which includes companies like Brightcove, Evernote, Meetup, komoot, Remini, and WeTransfer. "We’re determined to make ambitious investments in the U.S. and other priority markets,” Ferrari added. “We’ll focus on achieving even more stellar levels of performance and reliability, bringing advanced features to more customers, and continuing to release powerful and responsible AI-enabled features.”
The acquisition is projected to conclude in the fourth quarter of 2025, pending regulatory approvals and a shareholder vote. Vimeo has indicated it won't hold an earnings call for the third quarter of 2025, instead opting to release written results in compliance with Securities and Exchange Commission regulations. Skadden, Arps, Slate, Meagher & Flom LLP served as Vimeo's legal counsel, with Allen & Co. acting as its financial advisor. Bending Spoons received legal counsel from Latham & Watkins LLP and financial advisory services from J.P. Morgan, Wells Fargo, and BNP Paribas. EY Advisory SpA and EY SLT provided financial and tax due diligence.