Bending Spoons to Buy Vimeo in $1.38 Billion All-Cash Deal

Vimeo, the online video platform, has agreed to be acquired by the European mobile app developer Bending Spoons in an all-cash deal worth $1.38 billion. This acquisition comes as Vimeo has struggled to compete with larger platforms like YouTube and TikTok. Bending Spoons, known for its suite of popular mobile apps, sees the acquisition as an opportunity to expand its reach into the video-sharing market. The deal is expected to provide Vimeo with the resources and support it needs to better compete in the highly competitive online video landscape. The transaction, which is subject to regulatory approval, is anticipated to close in the coming months. Vimeo's management team is expected to remain in place, ensuring continuity and a smooth transition under the new ownership. The acquisition represents a significant move for Bending Spoons, as it seeks to diversify its portfolio and capitalize on the growing demand for online video content and services.