Bending Spoons to acquire Miro in $1.36 billion deal

Italian technology group Bending Spoons has agreed to acquire workplace collaboration platform Miro in an all-cash deal with an enterprise value of about $1.355 billion, the two companies announced on Thursday. Including Miro's net cash, the transaction implies an equity value of roughly $1.79 billion, according to a joint statement. The agreement is Bending Spoons' second major software purchase since its July listing on Nasdaq, coming shortly after it completed the acquisition of Airtable, announced in early August at an enterprise value of $1.285 billion. The company raised $1.68 billion in its initial public offering, and Italy's export credit agency SACE later backed a $500 million loan for acquisitions. The price represents a steep decline from Miro's peak valuation of $17.5 billion in late 2021 and 2022, a drop widely attributed to the unwind of pandemic-era software valuations and disruption reshaping the SaaS sector.