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.

These costs persist regardless of the merger’s completion, posing a financial burden. Furthermore, if the merger agreement is terminated under specific conditions, Vimeo may be obligated to pay a $40.

Sept 10 (Reuters) - Video platform Vimeo, whose popularity surged during the pandemic, said on Wednesday it will be acquired by Italian app developer Bending Spoons for about $1.38 billion, a deal ...