Berkshire raises Bending Spoons stake to 4% with fresh $330 million bet

By Reuters News

Oct 14 (Reuters) - Bending Spoons BSP.O said on Wednesday Berkshire Hathaway BRKa.N had invested an additional $330 million in the technology company, bringing its total ownership stake to 4% and sending the Italian firm's share up 40% in early trading.

The latest funding adds to the $600 million investment from the US conglomerate at the company's initial public offering in July.

Bending Spoons will issue 10 million ordinary shares at $33 per share in a private placement, it said. The transaction is subject to customary closing conditions.

Bending Spoons, which acquires and transforms struggling digital businesses, said the investment would strengthen its financial flexibility and support its acquisition strategy.

The company continues to evaluate merger and acquisition opportunities and has a strong pipeline, said Francesco Patarnello, co-founder and its head of business acquisitions.

Bending Spoons' portfolio includes Airtable, AOL, Brightcove, Eventbrite, Evernote, Tractive, Vimeo and WeTransfer.

Berkshire Hathaway, the conglomerate whose businesses span insurance, energy, rail transportation, manufacturing and retail, has a long history of investing across industries.

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