Bending Spoons to acquire Miro in $1.36B cash deal, down 92% from 2021 valuation

Italian software company Bending Spoons has agreed to acquire Miro, the collaboration tools maker, for $1.36 billion in cash, representing an equity value of $1.79 billion. The deal marks a roughly 92% decline from Miro's $17.5 billion valuation in late 2021.

Founded in 2011 as a whiteboarding tool called RealtimeBoard, Miro gained significant traction during the COVID-19 pandemic as remote work drove demand for digital collaboration. The company now integrates with more than 250 apps and has partnerships with Atlassian, Cisco, Microsoft, and Zoom. Miro describes itself as an "AI innovation workspace," offering AI assistants, AI workflows, prototyping tools, and AI connectors that pull context from platforms such as GitHub, Jira, and Slack.

Miro currently has over 4 million paying users and 100 million total users, with annual recurring revenue of approximately $600 million, 90% of which comes from businesses and enterprises. The company also holds about $435 million in net cash and is profitable.

The acquisition follows Bending Spoons' recent purchase of Airtable for $1.28 billion last month. The sharp drop in Miro's valuation reflects the broader repricing of SaaS companies that were valued at premium levels in 2021.