(RTTNews) - Bending Spoons S.p.A. (BSP), an Italian technology company, on Tuesday entered into a definitive agreement to acquire Airtable in an all-cash transaction for $1.285 billion.
The transaction is expected to close later this year.
The company said that, including Airtable's net cash and cash equivalents, the transaction implies an equity value of approximately $2.25 billion.
Under the agreement, the company will acquire 100% of Airtable's issued and outstanding shares.
Until the transaction closes, both companies will continue to operate independently.
Bending Spoons closed trading 2.90% higher at $36.22 on the Nasdaq. In the overnight, the stock traded 2.54% higher at $37.14.
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