Bending Spoons apparently paid $900 million for Tractive. The deal is one of the largest start-up sales in Austria.
Tractive, based in Pasching in the Linz-Land district, develops GPS trackers for dogs and cats. Bloomberg/Patrick T. Fallon
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The sale of the Upper Austrian start-up Tractive to the Italian software group Bending Spoons is apparently one of the largest start-up deals in Austria. According to a media report, the purchase price was $900 million. It remains unclear what will happen to the Pasching location and its employees in the long term.
The Italian software company Bending Spoons apparently paid $900 million for the Upper Austrian company Tractive. This corresponds to around 770 million euros. This is reported by the “Oberösterreichische Nachrichten”, citing documents for the planned IPO of Bending Spoons.
The sale, which took place in May, has reached a new level. The purchase price is one of the highest sums ever achieved for an Austrian start-up.
Tractive, based in Pasching in the Linz-Land district, develops GPS trackers for dogs and cats. The devices are sold internationally. The company now achieves annual sales of more than 100 million euros.
Before the takeover, Tractive was considered the only so-called unicorn in Upper Austria. Start-ups that are valued at more than a billion dollars are called unicorns.
The deal is economically significant for Upper Austria, but at the same time central questions remain unanswered. After the first job cuts, it is unclear what will happen in the long term for the Pasching location and its current workforce of around 235 employees.
Further development will not only be measured by the role Tractive plays in Bending Spoons’ portfolio, but also by whether research, development and jobs are kept in Upper Austria. (ed./ag)
