Italian technology firm Bending Spoons has agreed to acquire U.S. software company Airtable for $1.285 billion in an all-cash deal. This marks Bending Spoons' first acquisition since its Nasdaq debut last month.
The acquisition signifies Bending Spoons' aggressive post-IPO growth strategy and its continued focus on consolidating digital businesses, potentially impacting the competitive landscape for workflow and application-building software.
Bending Spoons has agreed to acquire Airtable for $1.285 billion in an all-cash transaction, marking the Italian technology company's first acquisition since its Nasdaq debut last month. Founded in 2013, Airtable provides a software platform that merges spreadsheet and database functionalities, enabling companies to develop applications and manage operational workflows without requiring coding expertise.
Bending Spoons has established a reputation for acquiring and restructuring digital businesses, employing a strategy that combines technology operations with a private equity-style acquisition model. The purchase of Airtable follows previous acquisitions this year of internet brand AOL and ticketing platform Eventbrite, continuing an aggressive expansion strategy.
According to Bending Spoons, Airtable's current net cash position implies an equity value of approximately $2.25 billion. The transaction is anticipated to close by the end of the year, contingent upon regulatory approvals and other closing conditions. Bending Spoons shares closed at $36.22 on Monday, significantly above their initial public offering price of $29.