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Vimeo, Inc. (NASDAQ:VMEO) is reportedly being considered for acquisition by Bending Spoons SpA, a major European mobile app developer.
Bending Spoons SpA, headquartered in Milan, has been in discussions with banks regarding financing for the prospective deal, Bloomberg reported, citing people familiar with the matter.
Bending Spoons offers products like Remini, a photo editor fueled by generative AI, and Splice, a mobile video editing app.
Its investors include former Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Eric Schmidt, telecom magnate Xavier Niel, tennis icon Andre Agassi, actor Bradley Cooper, and Colombian singer Maluma, as listed on its website.
On Feb. 29, Vimeo announced the launch of Vimeo Central, a secure, AI-powered video hub.
Vimeo Central empowers employees to communicate through video, extract actionable insights from a centralized source of truth, and become a more connected and productive organization.
“With Vimeo Central, companies of all sizes can become video-first organizations,” Vimeo [interim] CEO Adam Gross had commented.
Vimeo, formerly part of Barry Diller’s IAC/InterActive Corp., was spun off in 2021. Since then, it has seen a 91% drop in market value, the Bloomberg report added.
Discussions are in preliminary phases and may not result in a deal, the report read.
Price Action: VMEO shares are trading lower by 1.06% to $4.65 premarket on the last checked Wednesday.
Image sourced from Shutterstock
