MILAN, Aug 4 (Reuters) - Bending Spoons has agreed to buy Airtable in an all-cash deal valuing the U.S. software firm at $1.285 billion, the companies said on Tuesday, marking the Italian technology company's first acquisition since its Nasdaq debut last month.
Founded in 2013, Airtable offers a software platform that combines spreadsheet and database capabilities, allowing companies to build applications and manage operational workflows without coding expertise.
Bending Spoons has built a reputation for acquiring and restructuring digital businesses, pursuing a strategy that blends technology operations with a private equity-style acquisition model.
Airtable becomes the company's first acquisition since its flotation and follows purchases this year of internet brand AOL and ticketing platform Eventbrite, continuing an aggressive expansion strategy.
Bending Spoons said Airtable's current net cash position implies an equity value of about $2.25 billion.
The transaction is expected to close by the end of the year, subject to regulatory approvals and closing conditions.
Bending Spoons shares closed at $36.22 on Monday, well above their IPO price of $29.
Reporting by Elvira Pollina Editing by Keith Weir
Source: Reuters