Italian technology firm Bending Spoons has selected a group of investment banks to prepare for a potential $20 billion initial public offering in the United States. According to two informed sources, the Milan-based company, known for acquiring and revitalizing tech businesses, is accelerating its listing preparations.

The company has appointed Goldman Sachs, JPMorgan, Allen & Co, Bank of America, BNP Paribas, and Jefferies to jointly lead the IPO, which could value the business at approximately $20 billion. The public listing is anticipated within the coming months, with one source indicating it could be completed as early as this summer, provided market conditions remain favorable.

Bending Spoons' growth strategy centers on acquiring and repositioning established digital products. Its portfolio includes well-known brands such as video platform Vimeo, file-transfer service WeTransfer, note-taking app Evernote, and AOL, which was acquired last year. This approach helped the company achieve a valuation of around $11 billion in a funding round last year.

Supporting the ambitious IPO valuation is a sharp rise in profitability. CEO Luca Ferrari stated in an interview last November that adjusted EBITDA is projected to reach $1.4 billion by 2026, doubling from the $700 million expected in 2025. This robust earnings outlook provides fundamental backing for the proposed $20 billion market capitalization.

While 2026 is widely anticipated to be a strong year for public listings, geopolitical uncertainties and economic repercussions from the conflict involving Iran could disrupt some IPO schedules. Sources added that Bending Spoons may also aim to avoid overlapping with the potential IPO of trillion-dollar giants such as SpaceX.

Ferrari has previously indicated that if the company proceeds with an IPO, it would prioritize a U.S. listing, as American equity markets typically award higher valuations to technology firms. The company's name was inspired by a famous scene in the Hollywood film "The Matrix."