Bending Spoons, the Milan-based software group listed on Nasdaq, said on September 10, 2026 that it had signed a definitive agreement to acquire Miro, the visual collaboration platform, for an enterprise value of $1.355 billion in cash.
Including Miro's net cash, the deal gives an equity value of about $1.79 billion, implying roughly $435 million of net cash on Miro's balance sheet. Bending Spoons will buy all of Miro's outstanding shares. Some Miro shareholders, who were not named, agreed to put $295 million of their proceeds into newly issued Bending Spoons shares.
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 other customary conditions, and the two companies will operate independently until then.
What Miro built
Miro started in 2011 as RealtimeBoard, an online whiteboard for teams, and now markets itself as an AI workspace, competing with Canva, Microsoft and Figma, according to The Next Web. Andrey Khusid is its co-founder and chief executive.
According to the deal announcement, Miro has around $600 million in annual recurring revenue, nearly 90% of it from business and enterprise customers. It counts more than 250,000 customer organisations, more than 750 customers paying over $100,000 a year, nearly 4 million paying users and more than 100 million users in total. TechCrunch reported that the company is profitable, according to The Next Web.
“We acquire businesses with the intention of owning and operating them for the long term, and Miro will be no exception.”
From $17.5 billion to $1.355 billion
Miro raised a $400 million Series C in January 2022 at a post-money valuation of $17.5 billion, bringing its total funding to $476 million, People Matters reported at the time. Investors in that round included ICONIQ Growth, Accel, Atlassian, Dragoneer, GIC, Salesforce Ventures and TCV, along with individual backers such as Airtable co-founders Howie Liu and Andrew Ofstad. The company had raised a $50 million Series B in April 2020.
The enterprise value agreed with Bending Spoons is about 90% below that 2022 valuation. The equity value of $1.79 billion, which includes Miro's cash, is also about a tenth of the 2022 figure. The structure, in which some holders roll part of their cash into Bending Spoons stock, gives those investors a stake in the buyer's future results.
Why Bending Spoons is buying
Bending Spoons buys established software products and runs them for the long term. Its portfolio includes Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo and WeTransfer, and it says it has never sold a material business it acquired. Chief executive and co-founder Luca Ferrari said the company intends to invest substantially in the fundamentals Miro's customers value.
The Miro deal came days after Bending Spoons completed its purchase of Airtable, which it had agreed on August 4 at an enterprise value of $1.285 billion, The Next Web reported. The company raised $1.68 billion in a Nasdaq listing in July, and Italy's export credit agency SACE later backed a €500 million (about $580 million) loan for acquisitions.
What happens to staff and customers
In a post to employees and customers, Khusid said nothing would change in how Miro operates before closing. After that, Bending Spoons will spend time learning the business before deciding on structure and roles, subject to local legal requirements. Miro did not say how many of its staff would be kept, and its headcount was not disclosed in the announcements.
Employees holding unvested equity will receive a one-time cash bonus at closing, scaled by tenure: 25% of unvested equity credit after one to two years, rising to 100% for those with more than four years, while staff with less than a year will have their cliff waived. Khusid said he was convinced the sale was the right decision for Miro.
Morgan Stanley was Miro's exclusive financial adviser and Goodwin Procter its legal counsel. BNP Paribas and J.P. Morgan advised Bending Spoons, with Latham & Watkins as legal counsel.
