Milan-based Bending Spoons, which owns AOL and Vimeo, said on August 4 that it agreed to acquire Airtable in an all-cash deal that gives the software company an enterprise value of about US$1.29 billion.

It is Bending Spoons’ first acquisition announcement since its July 1 listing.

Bending Spoons said Airtable’s net cash lifts the implied equity value to about US$2.25 billion. The company also said Airtable had about US$480 million in annual recurring revenue as of June.

The price is far below the US$11.7 billion valuation Airtable reached in a 2021 funding round.

San Francisco-based Airtable, led by founder and CEO Howie Liu, said it lets teams create apps on shared data for business workflows.

🔗 Source: Bloomberg