Bending Spoons to buy Miro for $1.36B cash, valued $1.79B
Business
Bending Spoons, an Italian tech company, is buying the popular workplace platform Miro for $1.36 billion in cash.
The deal values Miro at around $1.79 billion after adjustments and is expected to close in the fourth quarter if regulators give the green light.
Miro $600 million revenue, 4 million users
Miro pulls in $600 million a year, mostly from business clients, and has about four million paying users.
Some shareholders are reinvesting $295 million into Bending Spoons shares as part of the deal.
Bending Spoons, fresh off its big US IPO and known for revamping brands like Vimeo and AOL, aims to boost profitability with strategies like cost-cutting and price hikes.