Bending Spoons has signed a definitive agreement to acquire Miro at an enterprise value of $1.355 billion, the Milan-based holding company announced on September 10, 2026. Counting Miro's net cash, the all-cash deal implies an equity value of roughly $1.79 billion, and it closes days after Bending Spoons completed its purchase of Airtable.
Key takeaways
- Miro brings about $600 million in annual recurring revenue, nearly 90% of it from business and enterprise customers, across 250,000 customer organizations.
- Certain Miro shareholders agreed to roll $295 million of their proceeds into newly issued Bending Spoons equity, keeping them invested in the acquirer rather than cashing out entirely.
- Both boards approved unanimously and the transaction is expected to close in the fourth quarter of 2026, pending regulatory clearance.
What Bending Spoons is actually buying
Miro's numbers describe an enterprise business rather than a prosumer tool. The company reports more than 100 million users, of whom nearly 4 million pay, and more than 750 customers each contributing over $100,000 in annual recurring revenue. That concentration at the top of the account list is what makes the $600 million ARR figure durable enough to underwrite a $1.355 billion price.
The product started in 2011 as RealtimeBoard, a shared whiteboard, and has since been repositioned as an AI-first canvas with assistants, automated workflows and prototyping built in. Its connectors pull context from GitHub, Jira and Slack, which places it against Canva, Microsoft and Figma rather than against other whiteboards.
Chief executive and co-founder Andrey Khusid framed the sale as a continuation rather than an exit, describing Miro as a workspace teams run their most important work through and saying the best version of the product is still ahead. He thanked customers and staff across what he called fifteen years of work.
How the acquirer's model works
Bending Spoons buys digital businesses, rebuilds them, and keeps them. Its own description of the strategy is unusually blunt about the mechanics: reorganize teams, overhaul technology, redesign interfaces, accelerate product development, and improve marketing and monetization, then reinvest the resulting earnings into the next acquisition. The company says it has never sold a material business in more than a decade of doing this.
Chief executive and co-founder Luca Ferrari said welcoming a product integrated into the workflows of over 250,000 organizations was a privilege and no small responsibility, and committed to investing substantially in performance, reliability and the functionality that supports collaborative work after closing. He restated the intent to own and operate Miro for the long term.
The portfolio that Miro joins is eclectic: Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo and WeTransfer. Several arrived as well-known brands whose growth had flattened, which is the pattern the model is built around.
Why two deals in five weeks
Bending Spoons has the balance sheet to move quickly. It listed on Nasdaq under the ticker BSP in July, raising $1.68 billion, and Italy's export credit agency SACE subsequently backed a €500 million loan earmarked for acquisitions. The Airtable deal, agreed on August 4 at a $1.285 billion enterprise value, closed the week before the Miro agreement was signed.
Buying Airtable and Miro within weeks assembles something more coherent than two logos. One is a structured database that teams build operational workflows on; the other is the unstructured surface where that work gets planned. Both are now controlled by an owner that treats AI agents as central to its transformation playbook rather than as a feature to bolt on — a pattern visible elsewhere in the market, as when Shopify acquired Tailwind Labs.
What to watch next
The open question for Miro's paying users is what Bending Spoons' standard transformation means for a tool embedded in enterprise processes. Its playbook explicitly includes enhanced monetization, which at 4 million paying seats implies pricing and packaging changes. Regulatory approval is the gating item before the fourth quarter, and the two companies will operate independently until then.
FAQ
How much is Bending Spoons paying for Miro?
The enterprise value is $1.355 billion in an all-cash transaction, which implies an equity value of approximately $1.79 billion once Miro's net cash is included. Some Miro shareholders are reinvesting $295 million of their proceeds into new Bending Spoons shares.
Will Miro keep operating as a separate product?
The companies will operate independently until the deal closes, expected in the fourth quarter of 2026. Bending Spoons said it acquires businesses to own and operate them long term and plans to invest in performance, reliability and collaborative functionality, and it has not announced a shutdown or merger of the product.
What else does Bending Spoons own?
Its main businesses include Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo and WeTransfer. The company says it has never sold a material business, and it completed the Airtable acquisition the week before announcing the Miro agreement.
