Airtable Acquisition
Bending Spoons to Acquire Airtable for $1.29 Billion, Expanding AI-Native Platform and Global Reach
Key Points
Airtable acquisition is an all-cash deal with an enterprise value of $1.285 billion, and an implied equity value of about $2.25 billion when Airtable’s net cash is included.
Airtable’s annual recurring revenue was about $480 million as of June 2026, up more than 20% year over year, with more than 500,000 organizations relying on Airtable — including 80% of the Fortune 100.
Bending Spoons completed the Tractive acquisition in May 2026 for an enterprise value of $759 million, adding pet-tracking and health-monitoring services.
Bending Spoons completed an initial public offering on Nasdaq, raising net proceeds of about $1.10 billion, and expanded euro-denominated debt facilities with €590 million term loan A and a €30 million increase to revolving credit facilities.
At the end of Q2 2026, BSP held $793 million in cash and cash equivalents and had about $1.28 billion of available borrowing capacity under its revolver, with a reported leverage ratio of 2.4x.
Bending Spoons has agreed to buy Airtable in an all-cash deal worth $1.285 billion, the Italian app company announced alongside its second-quarter earnings. The deal values Airtable at an implied equity value of about $2.25 billion when the company's net cash is included, according to Quiver Quant.
The acquisition is Bending Spoons' biggest yet and follows a rapid buying spree. The company already snapped up AOL and Eventbrite in early 2026 and went public on Nasdaq on July 1, 2026, raising about $1.10 billion in net IPO proceeds, per Yahoo Finance.
Airtable's 500,000 Customers Make It a Prize Target
Airtable is no small catch. The company serves more than 500,000 organizations, including 80% of the Fortune 100. Its annual recurring revenue hit about $480 million as of June 2026 — up more than 20% year over year. That steady growth made it an attractive target for Bending Spoons, which wants to build an AI-native software platform, according to Scanx Trade.
Bending Spoons says Airtable's data-organizing tools will accelerate AI innovation across its growing brand portfolio. Airtable will keep running independently until the deal closes. Both boards have approved the transaction. Closing is expected later in 2026, subject to standard regulatory conditions.
Bending Spoons' Acquisition Machine Runs at Full Speed
The Airtable deal is not the company's only big move this year. Bending Spoons closed its acquisition of pet-tracking app Tractive in May 2026 for $759 million. That deal added pet health-monitoring services to its portfolio. The company has now spent roughly $2 billion on acquisitions in 2026 alone, per Quiver Quant.
To fund this growth, Bending Spoons has leaned heavily on debt markets. It raised a €590 million euro-denominated term loan and expanded its revolving credit line by €30 million. At the end of Q2 2026, the company held $793 million in cash and had about $1.28 billion of borrowing capacity still available.
Strong Q2 Results Ease Fears About the Spending Pace
Bending Spoons posted strong second-quarter numbers despite the heavy deal activity. Revenue jumped 126% from Q2 2025, and operating income rose 139% over the same period, according to Quiver Quant. The company also beat Wall Street's earnings estimate, reporting adjusted earnings of $0.46 per share, per Yahoo Finance.
Still, shares slipped 1.5% on the news. Investors may be nervous about the pace of spending. The company's leverage ratio stood at 2.4x at the end of Q2. For Q3 2026, Bending Spoons guided for revenue between $733 million and $745 million, slightly above the prior analyst estimate of $738 million, according to Benzinga.
What the Airtable Deal Means for Enterprise Software
Bending Spoons started as a mobile app maker. It is now positioning itself as a major enterprise software player. Adding Airtable's no-code database tools to its stack gives the company a serious foothold in workplace software. The combined business would touch hundreds of millions of users across consumer apps and Fortune 100 companies.
The bet is that Airtable's structured data sits at the heart of AI-powered workflows. Bending Spoons has not detailed exactly how it plans to integrate AI tools. But the company has framed the deal as a push to speed up innovation across all of its brands — not just within Airtable itself, per Yahoo Finance.
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