Bending Spoons strikes $2.25bn Airtable deal in first acquisition since IPO

Italian software firm Bending Spoons has finalized a $2.25 billion acquisition of US-based workflow software company Airtable, marking its inaugural acquisition since going public on the Nasdaq. The deal, announced on Tuesday, follows Bending Spoons' rapid acquisition strategy since its IPO last month. CEO Luca Ferrari envisions transforming the company into a "legendary institution" through a series of purchases, rebuilds, and integrations of software businesses.

Airtable, founded in 2013, creates software that merges spreadsheet and database capabilities, enabling enterprises to construct internal applications and workflows without requiring coding knowledge. The acquisition is projected to conclude by year-end, contingent on regulatory clearances. Bending Spoons has established itself as one of Europe's leading software acquirers, having acquired entities such as Evernote, Meetup, WeTransfer, Brightcove, Vimeo, Eventbrite, and AOL.

The company's acquisition-focused approach has been likened to private equity firms, although Ferrari emphasizes that Bending Spoons differentiates itself by integrating acquisitions into a unified technology platform, operating model, and culture. Presently, approximately 80% of Bending Spoons' 700 employees are engineers, researchers, product designers, and operators dedicated to refining the acquired products.

The company made its Nasdaq debut in July, with a valuation of $18 billion, which surged on its first day of trading.