Bending Spoons, a mobile technology and app development company based in Milan, Italy, has purchased Filmic Inc., a maker of professional video applications for smartphones.
The acquisition looks to support Filmic with its mobile technologies and brands by providing technological and digital marketing experience. Bending Spoons’ support aims to help Filmic’s plans for growth, expand its development cycles and build a better experience for customers in the creator community. Cascadia Capital acted as financial advisor to Filmic Inc. in the transaction.
“Bending Spoons’ recent $340 million financing from actor Ryan Reynolds and other leading names in technology, media, and finance is a testament to the outsized growth and attractiveness of the creator economy, in which Bending Spoons and Filmic will play a leading role,” says Matt Riendeau, managing director at Cascadia Capital. “These transactions are a great example of the rapidly evolving mobile app ecosystem which now comprises many large enterprises that are well capitalized and highly acquisitive, a significant shift from only a few years ago.”