Updated version 1 - Repost - Berkshire increases investment in Bending Spoons by an additional $330 million, driving up the share price

Updated the share price movement in the first paragraph and added details in paragraphs 8 and 9.

Reuters, October 14 - On Wednesday, Bending Spoons (BSP.O) shares surged 34% after Berkshire Hathaway (BRKa.N) invested an additional $330 million in the company, which owns Vimeo and AOL. The moves of this high-profile investor have always been closely watched by traders, and this investment is seen as a strong endorsement.

This investment builds on Berkshire Hathaway’s $600 million investment in Bending Spoons’ initial public offering (IPO) in July. According to data from the London Stock Exchange Group (LSEG), this brings the holding of the conglomerate founded by Warren Buffett to 4% of the company, making it the sixth-largest investor in this Italian company.

Berkshire Hathaway’s business spans insurance, energy, railroads, manufacturing, and retail, and it has a long tradition of cross-sector investing.

Under the leadership of CEO Greg Abel, the group has (link) increased its investments in technology companies and the field of artificial intelligence, with Alphabet GOOGL.O now its third-largest common stock holding. Its biggest stock investment remains Apple AAPL.O.

Bending Spoons will issue 10 million common shares to Berkshire Hathaway at a price of $33 per share. Meanwhile, the company’s stock price jumped to $51.10.

Bending Spoons, which focuses on acquiring and transforming distressed digital businesses, said the investment will enhance its financial flexibility and support its acquisition strategy.

Francesco Patarnello, co-founder and head of business acquisitions, stated that the company is continuously evaluating acquisition opportunities and has a strong pipeline of potential projects.

Bending Spoons focuses on acquiring and transforming digital businesses, with a portfolio including productivity software maker Airtable, pet tracking company Tractive, and file-sharing platform WeTransfer.

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