Bending Spoons agrees to buy Miro for $1.355 billion
Money MovesItalian software group acquires collaboration platform at a fraction of its 2022 valuation
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Overview
Updated 1 hour agoBending Spoons, the Milan-based software group, agreed on September 10 to buy Miro, the online collaboration platform, for $1.355 billion in cash. That's about 8% of the $17.5 billion valuation Miro commanded in 2022.
Miro brings roughly $600 million in annual recurring revenue and 100 million users across 250,000 organizations. The deal is expected to close in the fourth quarter of 2026, pending regulatory approval.
Why it matters
The deal signals that even large software companies are worth a fraction of their 2021-2022 peaks, a shift that affects valuations across the tech sector.
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Milan-based software company that acquires digital businesses, optimizes their operations, and reinvests in further acquisitions.
AI Innovation Workspace used by 100 million users across 250,000 organizations for planning, co-creation, and building.
Timeline
2022 September 2026
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Bending Spoons agrees to buy Miro
Today AcquisitionBending Spoons signs a definitive agreement to acquire Miro for $1.355 billion in cash.
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Miro lays off roughly 275 more employees
RestructuringMiro reportedly cuts another 275 employees as the company adjusts to slower growth.
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Miro lays off 119 employees
RestructuringMiro cuts 119 staff as growth slows and customers tighten spending.
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Miro valued at $17.5 billion
FundingMiro raises at a $17.5 billion valuation during the SaaS boom.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
SaaS valuation correction (2021-2023)
Software companies raised at record valuations in 2021-2022 as pandemic-era demand boosted growth. As customers cut spending and growth slowed, valuations collapsed. Miro's drop from $17.5 billion to $1.355 billion is one of the most dramatic examples.
Many SaaS companies cut staff and refocused on profitability.
The correction reset expectations for software valuations across the industry.
Miro's acquisition price reflects this broader correction, and the deal may signal that more distressed SaaS acquisitions are coming.
Bending Spoons acquires Evernote (2022)
Bending Spoons acquired Evernote, the once-dominant note-taking app, for an undisclosed sum. Evernote had struggled to grow after years of leadership changes and product missteps.
Bending Spoons cut costs aggressively and restructured Evernote's operations.
The acquisition became a template for Bending Spoons' strategy of buying established software at distressed valuations.
Shows the same playbook Bending Spoons is applying to Miro: buy an established product, cut costs, and optimize operations.
Adobe-Figma deal collapse (2022-2023)
Adobe agreed to buy Figma, the design collaboration platform, for $20 billion in September 2022. European regulators signaled they would block the deal, and Adobe abandoned it in December 2023.
Figma remained independent and continued growing.
The collapse showed that large software acquisitions face serious regulatory scrutiny in Europe.
The Miro deal is much smaller than Adobe-Figma, but it still requires regulatory approval in multiple jurisdictions.
