Bending Spoons S.p.A. has agreed to acquire Miro, a workplace-collaboration platform, for an enterprise value of $1.355 billion. The all-cash transaction implies an equity value of approximately $1.79 billion after including Miro's net cash.
Certain Miro shareholders have agreed to reinvest $295 million of their sale proceeds into newly issued Bending Spoons equity, signaling continued confidence in the acquiring company's strategy.
Miro generates around $600 million in annual recurring revenue, with nearly 90 percent from business and enterprise customers. The platform serves nearly 4 million paying users, including over 750 customers each contributing more than $100,000 in ARR.
The 2.26x ARR multiple reflects Bending Spoons' focus on acquiring established enterprise software with predictable revenue streams. The Italian software company completed an all-cash acquisition of Airtable for $1.285 billion enterprise value last week.
Luca Ferrari, Bending Spoons CEO and co-founder, said it is "a privilege, and no small responsibility, to welcome a product that over 250,000 organizations have integrated into their workflows." The company plans to invest substantially in Miro's performance, reliability and features supporting collaborative work.
Andrey Khusid, Miro CEO and co-founder, said the platform "has become something more: an AI-first workspace that teams run their most important work through."
Both companies' boards unanimously approved the agreement. Bending Spoons will acquire 100 percent of Miro's issued and outstanding shares. The transaction is expected to close in the fourth quarter of 2026, pending regulatory approvals and customary closing conditions. Until closing, both companies will operate independently.
