New Delhi, Aug. 4 -- Italian technology company Bending Spoons has signed a definitive agreement to acquire no-code enterprise software platform Airtable in an all-cash transaction valued at an enterprise value of $1.28 billion, expanding its portfolio of software businesses as competition intensifies in the AI-powered enterprise applications market.

Including Airtable's existing cash and cash equivalents, the deal implies an equity value of approximately $2.25 billion. The acquisition is expected to close later this year, subject to regulatory approvals and other customary closing conditions.

Founded in 2012, Airtable combines spreadsheet-style interfaces with database capabilities, enabling businesses to build custom applications and ...