By Dean Seal
Shares of Brightcove have surged close to the $4.45 acquisition price it has accepted from Italian technology company Bending Spoons.
The stock was up 35% at $4.31 in premarket trading. Shares had gained 23% year-to-date when the market closed last week.
The online video platform provider said Monday that it has agreed to be acquired and taken private by Bending Spoons for $233 million in cash.
The transaction is expected to close in the first half of next year if it receives approval from shareholders and regulators. If the deal is consummated, Brightcove would become a privately held company and its shares would be delisted.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 25, 2024 09:08 ET (14:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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