Bending Spoons has agreed to acquire spreadsheet and database platform Airtable for $1.28 billion in cash, marking the Italian software company’s first acquisition since going public last month.

Airtable, founded in 2013, has raised more than $1.4 billion across multiple funding rounds over its history. At the height of the 2021 startup boom, the company was valued at over $11 billion. That valuation cooled sharply in the years since, with shares reportedly trading on secondary markets earlier this year at a valuation closer to $4 billion.

Bending Spoons said that once Airtable’s current net cash-and-cash-equivalents balance is factored in, the company is effectively being valued at about $2.25 billion in the deal, well below its peak but still a meaningful premium over recent secondary-market pricing.

Despite the valuation decline, Airtable’s underlying business has kept growing. Annual recurring revenue is up more than 20 percent year-over-year, reaching approximately $480 million as of June 2026. The company says it serves more than 500,000 organizations, including 80 percent of the Fortune 100.

Bending Spoons itself went public just last month at an $18 billion valuation. The company has built its business by acquiring and restructuring established but underperforming technology brands, with a portfolio that already includes Evernote, WeTransfer, Eventbrite, and Vimeo. Airtable becomes the latest addition to that list and its first deal since becoming a publicly traded company.

The acquisition fits Bending Spoons’ established playbook of buying recognizable consumer and productivity brands at a discount to their prior valuations, then working to improve their operations and profitability. For Airtable, the deal offers an exit for existing investors after a rocky few years of valuation resets across the software industry, while giving the no-code database platform access to Bending Spoons’ operational resources as it looks to keep growing its enterprise customer base.

Terms of the deal beyond the $1.28 billion price have not been disclosed, and it remains subject to customary closing conditions.