Berkshire Hathaway Invests $330 Million in Bending Spoons
Berkshire Hathaway has invested an additional $330 million in technology company Bending Spoons, bringing its stake to 4%. The investment follows a previous $600 million infusion in July.
Berkshire Hathaway has made a new $330 million investment in software company Bending Spoons, increasing its ownership stake to 4% of the firm. The investment was revealed in a new securities filing.
This latest infusion follows the conglomerate's $600 million investment in July, which occurred around the time Bending Spoons went public on the Nasdaq. Under the terms of the new deal, Bending Spoons will issue 10 million ordinary shares to Berkshire Hathaway at $33 per share.
Bending Spoons, an Italy-based company known for acquiring and developing subscription-based apps, views the investment as a reflection of confidence in its team and platform. Francesco Patarnello, co-founder and head of business acquisitions, stated that the funding will enhance their financial flexibility and ability to pursue further acquisitions as part of their broader financing strategy.
The investment is also notable as it marks one of Berkshire Hathaway's early significant moves under CEO Greg Abel, who took the helm from Warren Buffett. The capital injection underscores Bending Spoons' continued growth and Berkshire's strategic interest in the company.