Credit: Bending Spoons “It’s a privilege, and no small responsibility, to welcome a product that over 250,000 organizations have integrated into their workflows,” said Luca Ferrari, the chief executive and co-founder of Bending Spoons. His Milan-based group has agreed to buy Miro, the online whiteboard company, at an enterprise value of $1.355bn. Bending Spoons announced the all-cash deal on Thursday in a statement. Including Miro’s net cash, the transaction implies an equity value of about $1.79bn.
Bending Spoons will acquire all of Miro’s shares. Some Miro shareholders are also staying in. They have agreed to invest $295m of their proceeds in newly issued Bending Spoons shares. The statement did not name them.
The boards of both companies approved the deal unanimously. It is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary conditions. Until then, the two companies will keep operating independently. What Miro brings Miro gives Bending Spoons a large enterprise business.
According to the statement, Miro has around $600m in annual recurring revenue, and nearly 90% of it comes from business and enterprise customers. It serves more than 100 million users across 250,000 customer organisations. Nearly 4 million of those users pay. More than 750 customers each bring in over $100,000 in annual recurring revenue.
TechCrunch’s Ram Iyer reported that the company is profitable. Miro started in 2011 as a whiteboarding tool called RealtimeBoard. Today it sells itself as an AI workspace, with AI assistants, workflows and prototyping tools on a shared canvas. Its connectors pull in context from tools such as GitHub, Jira and Slack.
That puts it up against rivals including Canva, Microsoft and Figma, which has built its own AI assistant for the canvas. Andrey Khusid, Miro’s chief executive and co-founder, described the product as one “that teams run their most important work through.” “The best version of Miro is still ahead of us,” Khusid said. He added that the partnership lets Miro deliver on that vision for the customers who rely on it. A second deal in weeks Miro is Bending Spoons’ second large software purchase in quick succession.
The company agreed to buy Airtable on 4 August, at an enterprise value of $1.285bn. According to Thursday’s statement, that deal closed last week. Miro joins a portfolio that includes Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo and WeTransfer. The Milan company, which filed for a US listing in June, has the funds to keep buying.
It raised $1.68bn when it went public on Nasdaq in July. Weeks later, Italy’s export credit agency SACE backed a €500m loan for acquisitions. What Bending Spoons plans Once the Miro acquisition closes, Ferrari said, Bending Spoons plans to “invest substantially in the fundamentals that its customers value.” He named 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,” he said. Bending Spoons describes its model in the same statement.
It buys digital businesses, transforms them, and reinvests the earnings in further acquisitions. That transformation typically means reorganising teams, overhauling technology, redesigning interfaces and improving monetisation, with AI central to the process. The company says it has never sold a material business. Latham & Watkins is legal counsel to Bending Spoons, with BNP Paribas and J.P.
Morgan as co-financial advisers. Goodwin Procter is advising Miro, with Morgan Stanley as its exclusive financial adviser.
Leave a Reply