Italian software acquirer Bending Spoons has agreed to purchase collaboration platform Miro for $1.36 billion in cash. The deal represents an equity value of $1.79 billion, marking a significant decline from the $17.5 billion valuation Miro reached in late 2021.
Miro currently reports over 100 million total users, including more than four million paying customers. The company generates approximately $600 million in annual recurring revenue, with 90% of that volume originating from business and enterprise clients. Miro holds $435 million in net cash and remains profitable.
The company, founded in 2011 as RealtimeBoard, previously experienced rapid growth during the pandemic, expanding its user base from five million to 30 million between 2020 and 2022. However, the firm implemented two rounds of layoffs, cutting 119 positions in February 2023 and 275 roles in October 2024.
Bending Spoons continues a strategy of acquiring established SaaS companies that were highly valued during the 2021 market peak. This transaction follows the recent acquisition of Airtable, which Bending Spoons purchased for $1.28 billion after its previous valuation exceeded $11 billion.
