The Italian app maker Bending Spoons is buying Airtable, the cloud spreadsheet platform, for $1.285 billion in cash, its first deal since listing on the Nasdaq last month.
The purchase price is below the roughly $1.4 billion Airtable has raised from investors. After its $735 million Series F in 2021, the company was valued at $11.7 billion, a mark the acquisition falls far short of.
Bending Spoons specializes in acquiring software companies and boosting their performance. It has shipped more than 30 features for Vimeo since buying the video platform in November and made over 200 improvements to Evernote. The company’s July listing raised $1.68 billion, giving it fresh firepower for deals like this one.
Airtable lets teams track business data in flexible spreadsheets, build automation workflows and create simple applications. Its built-in AI agents can enrich records with web data, spot patterns and generate visualizations. More than 500,000 organizations use the platform, including most of the Fortune 100, and its annual recurring revenue grew over 20% in the past year to $480 million.
CEO Luca Ferrari said Bending Spoons plans to invest in Airtable for the long run and expand what teams can do across the full spectrum of work. The deal is expected to close by year’s end.
