Brightcove pushes ahead with Zencoder acquisition
Brightcove is pushing ahead with plans to acquire Zencoder as it offers inducement equity awards to 15 employees.
Cloud content services provider Brightcove is continuing to progress with its plans to acquire Zencoder.
In a move that may interest business negotiations consultants, the firm reveals it has made inducement equity awards to 15 new employees in connection with its intention to takeover the transcoding software company.
Set to be offered to those who choose to work for Brightcove once the transaction goes through, the awards account for 77,041 shares of the organisation's stock in the form of restricted stock units (RSUs).
With over 4,650 customers across the world, Brightcove provides a range of cloud content platforms, including Video Cloud and App Cloud, which allow people to share documents across PCs, tablets, smartphones and other connected devices.
Two-thirds of the RSUs will vest on the two-year anniversary of the deal's closing, with the remainder processed exactly 12 months after this point.
"The awards are subject to vesting pursuant to the terms of the Brightcove 2012 RSU Inducement Plan and the individual award agreements, which terms include that the recipient be employed through each vesting date," the firm indicates.
Posted by Ron Maverick
Source: Brightcove press release, August 14th