180 Degree Capital Notes Its Portfolio Company Brightcove, Inc., Entered into an Agreement to be Acquired by Bending Spoons

Core Viewpoint - 180 Degree Capital Corp. announces that its portfolio company, Brightcove, Inc., has entered into a definitive agreement to be acquired by Bending Spoons for approximately $233 million, or $4.45 per share, validating the belief that Brightcove was undervalued [1][2] Group 1: Company Acquisition - Brightcove, Inc. has agreed to be acquired by Bending Spoons for about $233 million, translating to $4.45 per share [1] - Prior to the acquisition announcement, 180 Degree Capital owned approximately 1.35 million shares of Brightcove [1] Group 2: Management Commentary - Kevin M. Rendino, CEO of 180 Degree Capital, expressed congratulations to the Brightcove team and highlighted the investment strategy that led to the acquisition, emphasizing the belief in Brightcove's strong balance sheet and recurring revenue [2] - Daniel B. Wolfe, President of 180 Degree Capital, noted that Brightcove exemplifies the type of companies the firm seeks to invest in, with a strong management team and potential for significant value appreciation [2] Group 3: Investment Strategy - 180 Degree Capital focuses on investing in substantially undervalued small publicly traded companies with turnaround potential, aiming for a reversal in share price through constructive activism [3] - The firm aims to build a concentrated portfolio of core positions in companies that can lead to outsized returns within a typical investment horizon of one to three years [2][3]