Bending Spoons agrees to acquire Airtable for 1.285 billion in all-cash deal, first acquisition since Nasdaq IPO
Bending Spoons $BSP agreed to buy Airtable in an all-cash deal valuing it at $1.285 billion, its first deal since its Nasdaq IPO last month, per CNBC. Airtable peaked above $11 billion in 2021, traded near $4 billion on secondaries this year. Close expected by year-end.
Bending Spoons $BSP has agreed to acquire Airtable in an all-cash deal valuing the U.S. software firm at $1.285 billion, marking the Italian technology company's first acquisition since its Nasdaq debut last month, according to CNBC and TechCrunch. Including Airtable's net cash position, the transaction implies an equity value of roughly $2.25 billion. Airtable was founded in 2013 and has raised more than $1.4 billion, reaching a valuation above $11 billion at its peak in 2021. Earlier this year it was trading on secondary markets at a valuation closer to $4 billion. The deal follows Bending Spoons' acquisitions of AOL in January and Eventbrite in March, continuing a run of purchases that began after the company's Nasdaq IPO priced at $29 a share on July 1 and raised about $1.68 billion. The Airtable deal differs in kind from Bending Spoons' earlier consumer-app acquisitions like AOL and Eventbrite: Airtable is enterprise workplace software, and the purchase signals the company is now competing for business customers rather than just rolling up legacy consumer brands. Completion is expected before year-end, pending regulatory review and other customary closing conditions.