Bending Spoons agrees to acquire Miro for $1.355 billion

Sources: primary, discussion
Summary: The definitive agreement values Miro at $1.355 billion enterprise value, implying about $1.79 billion equity value with net cash, and certain Miro shareholders agreed to reinvest $295 million of proceeds into newly issued Bending Spoons equity. Bending Spoons states Miro has grown to around $600 million in annual recurring revenue, nearly 90 percent from business and enterprise customers, with nearly 4 million paying users and more than 750 customers above $100,000 in annual recurring revenue. The transaction is all cash, both boards approved unanimously, and closing is expected in the fourth quarter of 2026 subject to regulatory approvals, with Bending Spoons having completed its Airtable acquisition the previous week and also operating AOL, Brightcove, Eventbrite, Evernote, Vimeo and WeTransfer.
Why it matters: Bending Spoons states its model is deep transformation after acquisition, including reorganizing teams and overhauling technology, so the question for the 250,000 organizations that have integrated Miro is which parts get rebuilt.
Follow-up: Which Miro surfaces and integrations change after the deal closes.