\nBending Spoons S.p.A. (NASDAQ: BSP) has entered into a definitive agreement to acquire Miro at an enterprise value of $1.355 billion. Together with Miro\u2019s net cash, this implies an equity value of approximately $1.79 billion. In connection with the all-cash transaction, certain Miro shareholders have agreed to invest $295 million of their proceeds into newly issued Bending Spoons equity. The acquisition, including the investment, is subject to customary closing conditions and approvals, including regulatory approvals.<\/p>\n
\n\u201cIt’s a privilege, and no small responsibility, to welcome a product that over 250,000 organizations have integrated into their workflows,\u201d said Luca Ferrari, Bending Spoons CEO and co-founder. \u201cMiro has grown to around $600 million in annual recurring revenue, nearly 90% from business and enterprise customers. After closing, we plan to invest substantially in the fundamentals that its customers value: performance, reliability, and functionality that supports critical collaborative work. We acquire businesses with the intention of owning and operating them for the long term, and Miro will be no exception.\u201d<\/p>\n
\n\u201cWe started Miro fifteen years ago to give teams one place to think together and bring ideas to life. It has become something more: an AI-first workspace that teams run their most important work through,\u201d said Andrey Khusid, CEO and co-founder of Miro. \u201cNearly 4 million paying users depend on it, across every industry and region we serve, including more than 750 customers with over $100,000 in annual recurring revenue. The best version of Miro is still ahead of us. Partnering with Bending Spoons lets us deliver on that vision with ambition, for the customers who count on us. I\u2019m deeply grateful to all Mironeers, partners, users, customers, and investors who have been part of Miro\u2019s journey over the last fifteen years. Miro would not be what it is today without you, and I\u2019m excited to see what will be built in this next chapter.\u201d<\/p>\n
\nMiro would be the latest renowned product to join Bending Spoons. Last week, Bending Spoons completed the acquisition of Airtable.<\/p>\n
Details of the Proposed Transaction<\/b><\/p>\n
\nUnder the terms of the agreement, which was unanimously approved by the boards of directors of Bending Spoons and Miro, Bending Spoons will acquire 100% of the issued and outstanding shares of Miro.<\/p>\n
\nThe transaction is expected to close in the fourth quarter of 2026, subject to receipt of required regulatory approvals and other customary closing conditions. Until the transaction closes, both companies will continue to operate independently.<\/p>\n
Legal Counsel and Financial Advisors<\/b><\/p>\n
\nLatham & Watkins LLP is serving as legal counsel to Bending Spoons. Ernst & Young LLP and EY Advisory S.p.A. are providing financial and tax due diligence services while McDermott Will & Schulte Studio Legale Associato is acting as Italian tax counsel to Bending Spoons. BNP Paribas and J.P. Morgan are acting as co-financial advisors to Bending Spoons.<\/p>\n
\nGoodwin Procter LLP is serving as legal counsel and Morgan Stanley & Co. LLC is acting as exclusive financial advisor to Miro.<\/p>\n
About Bending Spoons<\/b><\/p>\n
\nBending Spoons is built on the conviction that operational excellence enables efficient growth through acquisitions. It acquires digital businesses, implements deep transformations and ongoing optimizations to sustainably expand earnings, and reinvests in additional acquisitions, thereby continuing the compounding cycle. The company has executed this strategy for more than a decade and, to date, has never sold a material business.<\/p>\n
\nBending Spoons strives to envision the most successful version of an acquired business, and works to close the gap between its current state and that vision as quickly and completely as possible.The transformation is typically deep and entails reorganizing teams, overhauling technology, redesigning user interfaces, accelerating product development, and enhancing marketing and monetization. AI is often both a central component of the vision and a key tool in implementing the transformation.<\/p>\n
\nBending Spoons\u2019 performance is driven by its Platform\u2014comprising its people, proprietary technologies, and proprietary data\u2014and reflects an intense focus on achieving exceptional talent density, cultural strength, and technical capabilities.<\/p>\n
\nBending Spoons\u2019 main businesses include Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo, and WeTransfer.<\/p>\n
About Miro<\/b><\/p>\n
\nMiro is the AI Innovation Workspace that brings teams and AI together to plan, co-create, and build the next big thing, faster. Serving more than 100 million users across 250,000 customers, Miro empowers cross-functional teams to progress from early discovery through final delivery on a shared, AI-first canvas. With the canvas as the prompt, Miro\u2019s collaborative workflows keep teams in the flow of work, scale shifts in ways of working, and drive organization-wide transformation. To learn more, visit https:\/\/miro.com<\/a>.<\/p>\n Forward Looking Statements<\/b><\/p>\n \nThis press release contains \u201cforward-looking statements\u201d within the meaning of the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements about Bending Spoons\u2019 planned acquisition of Miro, including the expected benefits, closing timing, and planned equity investment by certain Miro shareholders, and Bending Spoons\u2019 acquisition and integration strategies. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Words such as \u201cexpect,\u201d \u201canticipate,\u201d \u201cshould,\u201d \u201cbelieve,\u201d \u201chope,\u201d \u201ctarget,\u201d \u201cproject,\u201d \u201cgoals,\u201d \u201cestimate,\u201d \u201cpotential,\u201d \u201cpredict,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cmight,\u201d \u201ccould,\u201d \u201cintend,\u201d variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Bending Spoons\u2019 control.<\/p>\n \nBending Spoons\u2019 actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: competition, change in clients, regulatory measures, a change in external forces, risks associated with uncertainty as to whether the acquisition transaction will be completed, the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction, costs and potential litigation associated with the transaction, the failure to obtain necessary regulatory clearances or to satisfy the other closing conditions set forth in the agreement, risks that the proposed acquisition disrupts current plans and operations, potential difficulties in employee retention as a result of the proposed transaction, the distraction of management resulting from the proposed transaction, and other risk factors discussed from time to time by Bending Spoons in reports filed with, or furnished to, the Securities and Exchange Commission. Bending Spoons undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.<\/p>\n \nFor more information, visit our website <\/a>https:\/\/bendingspoons.com<\/a> and our Investors page https:\/\/investors.bendingspoons.com<\/a>. View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260910065427\/en\/<\/a><\/span><\/p>\n Media Contacts KEYWORDS:<\/b> Europe United States Italy North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Professional Services Data Management Other Professional Services Technology Other Technology Finance Artificial Intelligence<\/p>\n
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Bending Spoons logos and photos: https:\/\/we.tl\/t-l4EP2NyDKd<\/a>.<\/p>\n<\/p>\n
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Bending Spoons: press@bendingspoons.com
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Miro: press@miro.com<\/a><\/i><\/p>\n
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