Bending Spoons S.p.A. CEO Luca Ferrari said falling software-as-a-service (SaaS) valuations, partly driven by the rise of artificial intelligence, are creating attractive acquisition targets. AI also helps the company improve acquired businesses more quickly. The strategy has been central to Bending Spoons’ recent growth, including its acquisition of Airtable and agreement to buy Miro.
The company’s acquisition strategy is backed by significant fundraising in private credit markets, where lenders are underwriting its buyout model. Bending Spoons was recently featured as a key portfolio company in Endeavor Catalyst’s new $320 million fund, highlighting investor confidence in its growth-by-acquisition strategy. The company also recently upsized and priced new term loan B add-ons to help finance the Miro acquisition.