Berkshire Hathaway invests further $330m in tech group Bending Spoons

Summarised from 2 outlets · Updated 14 Oct, 16:38 · Archive

Berkshire Hathaway has invested a further $330 million in Bending Spoons, the Italy-based technology company.

Berkshire Hathaway has made a fresh $330 million investment in Bending Spoons, the Italy-based technology company that owns AOL and Vimeo. The investment was announced through a securities filing and saw Berkshire purchasing 10 million ordinary shares at $33 per share. Shares of Bending Spoons jumped more than 35 per cent following the announcement.

The latest investment follows Berkshire's $600 million stake in the company's IPO in July, when Bending Spoons listed on the Nasdaq. The new infusion brings Berkshire's total stake in the company to 4 per cent. The investment marks another decision under new CEO Greg Abel, who took over from founder Warren Buffett at the start of the year.

Francesco Patarnello, Bending Spoons' co-founder and head of business acquisitions, said the investment reflected confidence in the company's team and platform and would enhance its financial flexibility to pursue acquisitions. He noted that Bending Spoons continuously evaluates acquisition opportunities and its pipeline remains strong.

How it is being reported

• Bending Spoons skyrockets 35% as Berkshire Hathaway makes $330 million investmentBerkshire's latest investment follows the $600 million it invested in the company's IPO this July.CNBC · 14 Oct, 15:39
• Berkshire Hathaway adds $330mn to stake in tech group Bending SpoonsShares of conglomerate that owns AOL and Vimeo jump more than 50% on news of expanded investment by Nebraska asset managerFinancial Times · 14 Oct, 14:36

In this story: Berkshire Hathaway · Bending Spoons · Warren Buffett · Greg Abel · Francesco Patarnello · Italy

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