What Happened

Bending Spoons, the Milan-based public SaaS company, closed its acquisition of Airtable in September for an enterprise value of $1.285 billion and agreed to acquire collaboration platform Miro for $1.36 billion. CEO Luca Ferrari explicitly tied the buying spree to falling software valuations, which he called the 'SaaSpocalypse,' and to AI-driven operational acceleration inside Bending Spoons.

The company recently went public on Nasdaq in July, with shares up 31% since listing. Ferrari stated that AI now handles at least 90% of code writing, product design, monetization optimization, and even job applicant evaluation.

Who Is Affected

Bending Spoons' acquisition targets—Airtable and Miro—are now undergoing integration by a firm known for cutting costs and rapidly deploying engineering resources. Both platforms serve 500,000+ and millions of users respectively, meaning their existing user bases and partner ecosystems are in transition.

For vendors selling into Bending Spoons itself or its newly acquired companies, the integration phase is immediate and data-heavy. Existing Airtable and Miro customers should also expect changes in pricing, features, and support, creating churn risk—and opportunities for competitors or migration specialists.

Market Impact

• SaaS valuations have corrected sharply—the S&P software and services index dropped over 25% between January and early April 2026—making acquisitions cheaper and more frequent.
• Bending Spoons' stated reliance on AI for core operations signals a trend: acquirers now buy software to fold it into AI-driven workflows, not just to grow organically.
• The Airtable deal fetched an EV significantly below its peak $11 billion valuation, illustrating a reset in private tech multiples.
• Post-merger integration at scale is now a recurring event, not an exception, for SaaS-focused services firms.

What to Watch

Watch how Bending Spoons retains Airtable's and Miro's customer bases while cutting costs—their playbook typically includes aggressive pricing and feature consolidation. The company's next acquisition targets will also signal which categories it sees as undervalued.

For service providers, the immediate window is during the first 90 days post-close, when data migration, system consolidation, and workflow re-engineering decisions are made.

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