Bending Spoons has agreed to acquire spreadsheet and database software company Airtable for $1.285 billion in cash, marking its first purchase since listing on Nasdaq in July. The transaction is expected to close by the end of 2026, subject to regulatory approvals and other customary conditions.
The deal represents a steep reduction from Airtable’s previous private valuation. The company was valued at more than $11 billion during the technology funding boom in 2021, while its shares reportedly traded at a valuation of about $4 billion on secondary markets earlier this year.
Net Cash Raises Airtable’s Implied Equity Value
Bending Spoons said Airtable’s cash and cash-equivalent holdings increase its implied equity value to approximately $2.25 billion. The $1.285 billion purchase figure represents the value of its operating business after accounting for that net cash position.
Airtable has raised about $1.4 billion from investors since it was founded in 2013. Its platform combines features associated with spreadsheets and relational databases, allowing companies to create applications, organise information and manage workflows without extensive coding.
Bending Spoons founder and chief executive Luca Ferrari said Airtable’s annual recurring revenue had reached approximately $480 million as of June 2026. That figure was growing by more than 20% from the previous year, according to the acquisition announcement.
Airtable Expands Beyond Its Original Platform
Airtable serves more than 500,000 organisations, including 80% of the Fortune 100, according to company figures. Customers use the platform for product development, marketing campaigns, project management and other operational workflows.
In January, the company introduced Superagent, a separate product designed to coordinate teams of AI agents that can complete research and operational tasks. The product reflects Airtable’s effort to expand from its original no-code database platform into AI-powered business software.
Ferrari said joining Bending Spoons would support further product development at Airtable. The companies have not announced whether Airtable’s leadership, staffing or pricing will change after the acquisition.
Bending Spoons Continues Acquisition Strategy
Bending Spoons completed its initial public offering on July 1, pricing its shares at $29. The stock closed its first trading day at $40.50, giving the Milan-based company a market value of approximately $25.7 billion.
The company specialises in acquiring established technology products and changing their operations, staffing and product development. Its portfolio includes Evernote, WeTransfer, Vimeo, Eventbrite and AOL.
The Airtable purchase follows several acquisitions completed before the public listing. Bending Spoons has said it intends to hold acquired companies for the long term while using centralised technology and operational teams to improve their financial performance.
Featured image credits: Magnific.com
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