Feds OK Vimeo/Livestream Meld

Helps IAC tap into live event space

The feds are OK with video platform Vimeo's purchase of Livestream.

That came in an early termination notice from the Federal Trade Commission. That means that the deal's antitrust review was concluded early without a finding of any antitrust issues that would cause either the Justice Department or FTC to sue to block the deal or impose conditions.

With the combination, the IAC-owned Vimeo platform is offering Vimeo Live, its first live streaming event platform, integrating capture, edit, streaming and archiving.

Livestream provides video to almost 50 million viewers, according to IAC for customers from Spotify, to Dow Jones to the Philadelphia Eagles NFL team.

IAC had expected the deal to close early in the fourth quarter, so the sign-off was right on schedule.

Financial terms were not disclosed, but the fact that it was submitted for review means the price had to be at least $80.8 million, which is the threshold for review, according to the FTC.