Bending Spoons agrees to acquire Miro for $1.355 billion, continuing its software buyout spree

Italian software holding company Bending Spoons has agreed to acquire online whiteboard and collaboration platform Miro in an all-cash deal valuing the company at $1.355 billion in enterprise value — roughly $1.79 billion in equity value once Miro's net cash is factored in. The transaction, expected to close in the fourth quarter of 2026, would give Bending Spoons full ownership of a company serving more than 250,000 organizations and around 4 million paying users, with annual recurring revenue of roughly $600 million, nearly 90% of it from business and enterprise customers.

Some Miro shareholders have agreed to roll $295 million of their sale proceeds into newly issued Bending Spoons equity rather than take the full payout in cash — a structure that keeps part of Miro's existing ownership tied to the acquirer's future performance.

Who is Bending Spoons, and why the acquisition history matters

Bending Spoons is not a typical strategic acquirer. Founded in Italy in 2013, the company has built a portfolio of more than 50 apps and platforms — including Evernote, WeTransfer, Vimeo, and AOL — by buying established software companies it judges to be underperforming, then aggressively restructuring pricing, staffing, and operations. The company went public earlier this year and has said it plans roughly 1,000 more acquisitions as its long-term ambition.

The pattern following those acquisitions has been consistent and severe: Bending Spoons laid off about 75% of WeTransfer's staff within weeks of closing that deal in 2024, and cut most of Evernote's roughly 250 U.S. and Chile-based employees within months of acquiring the company in 2023, shifting operations to Europe. Neither Bending Spoons nor Miro has detailed staffing plans for this transaction, but the company's track record gives Miro's roughly 1,800 employees a specific and well-documented reason for concern that goes beyond the usual acquisition uncertainty.

What this means for Miro's product and customers

Miro's whiteboard and visual collaboration tools compete directly with Figma's FigJam, Mural, and Microsoft's collaboration suite, and its enterprise customer base is the primary asset Bending Spoons is paying for. Bending Spoons' operating model typically preserves the acquired brand and core product while cutting costs elsewhere — meaning existing Miro customers are more likely to see pricing and support changes than an abrupt product shutdown, based on how the company has handled Evernote and WeTransfer since acquiring them.

For the broader software M&A market, the deal is another data point in what several outlets have described as an accelerating pace of tech acquisitions this year, with private buyers increasingly willing to pay above $1 billion for profitable, enterprise-focused SaaS companies rather than wait for an IPO.

As first reported by Bending Spoons' investor relations announcement and Business Wire.