Italian technology group Bending Spoons has agreed to acquire workplace collaboration platform Miro for $1.355 billion in cash, adding another major software brand to a portfolio built through aggressive acquisitions of established digital products.
Reuters reported that the agreement gives Miro an enterprise value of $1.355 billion, extending Bending Spoons’ strategy of acquiring and operating mature technology businesses.
The transaction also represents a dramatic valuation reset for Miro. TechCrunch reported that the collaboration company had been valued at $17.5 billion during its previous funding peak, leaving the acquisition price roughly 90% below that earlier private-market valuation.
Miro grew into a $600M ARR collaboration business
Miro began in 2011 as RealtimeBoard, a digital-whiteboarding service, before expanding rapidly as distributed and remote work increased demand for collaborative software.
Bending Spoons CEO and co-founder Luca Ferrari said Miro now generates around $600 million in annual recurring revenue, with nearly 90% coming from business and enterprise customers.
Ferrari also said more than 250,000 organizations use Miro in their workflows.
Miro founder and CEO Andrey Khusid said the transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.
Bending Spoons has said it intends to invest in Miro’s performance, reliability and functionality after the transaction closes.
Bending Spoons keeps buying mature software brands
The Milan-based company has built much of its scale through acquisitions rather than relying entirely on internally created products.
Its portfolio has included software and digital brands such as Evernote, Vimeo and AOL, making Miro another example of Bending Spoons acquiring a globally recognized technology product after its hypergrowth phase.
That strategy is becoming increasingly relevant to Europe’s software market.
Many SaaS companies that commanded enormous valuations during the low-interest-rate and pandemic periods still have significant revenue, recognizable brands and enterprise customers—but no longer receive the valuation multiples investors once assigned to fast-growing software businesses.
Miro is an unusually clear example.
The SaaS correction is creating acquisition opportunities
For founders and investors, the acquisition says something larger about the post-boom software market.
A company can lose most of its headline valuation without becoming a failed business. Miro still generates around $600 million in annual recurring revenue and serves more than 250,000 organizations.
What changed is how markets value that growth.
That creates opportunities for buyers like Bending Spoons, which can acquire mature platforms, reshape their operations and attempt to extract more value from large existing customer bases.
The Miro transaction therefore represents more than another software acquisition. It shows how Europe is producing a different type of technology company: not merely startups trying to become the next global SaaS winner, but operators assembling portfolios from the winners of the previous software cycle.
