Berkshire Hathaway has agreed to invest an additional $330 million in Bending Spoons, a Milan-based software company. The investment takes the form of a private placement in which Berkshire will purchase 10 million newly issued ordinary shares at $33 each.
This latest investment builds on Berkshire's initial $600 million commitment made during Bending Spoons' July initial public offering. Combined, Berkshire's total investment reaches approximately $930 million at purchase prices, resulting in an ownership stake of about 4%.
Bending Spoons acquires and operates mature software and internet businesses. Its portfolio includes companies such as Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo, and WeTransfer.
According to Francesco Patarnello, Bending Spoons Head of Business Acquisitions and co-founder, the company continuously evaluates merger and acquisition opportunities with a strong pipeline in place. Patarnello stated that Berkshire Hathaway's investment reflects confidence in the team and platform while enhancing financial flexibility for pursuing acquisitions.
Bending Spoons shares closed at $53.46 on Thursday, following a 41.2% increase from the prior session's closing price of $37.86. The stock price substantially exceeded the $33 placement price locked in by Berkshire.
The private placement remains subject to standard closing conditions, with closing expected in the fourth quarter. Berkshire's Class B shares rose approximately 1% following the announcement.
