Bending Spoons just closed its biggest acquisition since going public. The Milan-founded software group is buying Airtable, the no-code platform that lets teams organize data and build custom workflows without touching a line of code, for $1.285 billion in an all-cash deal. This isn't a casual move. For years, Bending Spoons built its reputation on rapid-fire acquisitions of consumer apps. Now it's signaling a hard pivot toward enterprise software, where stickier customers and longer contracts live.
The headline number is $1.285 billion in enterprise value. Add Airtable's net cash position into the mix, and the effective equity value climbs to roughly $2.25 billion. That gap matters. It shows Airtable is sitting on a fat cash cushion, the kind of balance sheet you'd expect from a company that's actually profitable or close to it. For Bending Spoons, absorbing a target at this scale with an established enterprise customer base represents a genuine shift in strategy.
The Numbers Behind the Deal
Airtable's fundamentals look solid heading into this acquisition. The company's recurring annual revenue run rate topped $480 million as of June 2026, growing more than 20% year-over-year. That kind of expansion, combined with a loyal base of teams across industries relying on the platform to run daily operations, explains why Bending Spoons was willing to write such a large check. This closes by end of 2026, assuming no regulatory hiccups along the way.
The real story here isn't the price tag. It's what the acquisition signals about where Bending Spoons sees the money flowing next. Consumer apps are crowded, margins compress fast, and competition never sleeps. Enterprise software, by contrast, tends to stick around. Airtable's customers are embedded in their workflows. They've built business logic around the platform. Ripping it out costs more in operational friction than it's worth. That's the kind of fortress Bending Spoons is building now.
This article provides factual information about the transaction and does not constitute investment advice or a recommendation to buy or sell any security.
