Resend - Berkshire increases its stake in Bending Spoons to 4% through a new round of $330 million investment.

Corrected grammatical errors in paragraph 1

Reuters, October 14 - Bending Spoons BSP.O said on Wednesday that Berkshire Hathaway BRKa.N has invested an additional $330 million in the technology company, raising its stake to 4% and driving the Italian company's share price up by 40% in early trading.

This latest financing supplements the $600 million investment made by the American conglomerate in July during the company's initial public offering (IPO) (link).

Bending Spoons stated that it will issue 10 million ordinary shares at a price of $33 per share through a private placement. The transaction is subject to customary closing conditions.

Bending Spoons, which focuses on acquiring and transforming struggling digital businesses, said this round of investment will enhance its financial flexibility and support its acquisition strategy.

Francesco Patarnello, co-founder and head of business acquisitions at the company, said they are continuously evaluating merger and acquisition opportunities and have a solid pipeline of potential projects.

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

Berkshire Hathaway is a diversified conglomerate with businesses in insurance, energy, rail transportation, manufacturing, and retail, and has a long history of cross-industry investments.

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