Bending Spoons Eyes Acquisition Of Vimeo - In Talks With Banks For Financing: Report
Portfolio Pulse from Nabaparna Bhattacharya
Bending Spoons SpA, a European mobile app developer, is in talks with banks for financing to potentially acquire Vimeo, Inc. (NASDAQ:VMEO). Vimeo, known for its video hosting services, recently launched Vimeo Central, an AI-powered video hub. The company, which was spun off from IAC/InterActive Corp. in 2021, has seen a significant drop in market value. The acquisition discussions are still in preliminary stages, and there's no certainty they will lead to a deal. Vimeo's shares dropped 1.06% to $4.65 in premarket trading.
March 06, 2024 | 12:26 pm
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Vimeo, Inc. is being considered for acquisition by Bending Spoons SpA, which is currently seeking financing for the deal. Vimeo's market value has significantly dropped since its spin-off in 2021.
The news of potential acquisition talks could create uncertainty among investors, leading to a neutral short-term impact on Vimeo's stock price. The drop in premarket trading indicates immediate negative reaction, but the outcome of the talks could change the direction.
CONFIDENCE 75
IMPORTANCE 90
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