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
RELEVANCE 100