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

Vimeo, the online video platform that has struggled to compete against the likes of YouTube and TikTok, agreed to a $1.38 billion, all-cash takeover by European mobile app developer Bending Spoons.

Vimeo investors will receive $7.85 a share, representing a 91% premium over the company’s 60-day, volume-weighted average share price as of the close on Sept. 9, according to a statement. The firms said they expect the transaction to close in the fourth quarter. Vimeo will be delisted from exchanges upon completion.