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Cyprus Competitiveness Depends On Green And Digital Transition, Minister Says

by THEFUTURE.TEAM

September 10, 2026

Cyprus’ long-term business competitiveness will increasingly depend on how quickly the economy adopts green and digital technologies, Commerce Minister Michael Damianos said Thursday.

More than €500 million has been secured for related measures during the 2021-2027 programming period, with funding supporting entrepreneurship, industrial development, energy upgrades, the circular economy and business digitalization.

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AI, Cybersecurity And Skills Pose Key Challenges

Speaking at the first Cyprus IT Directors Forum during the third Cyprus Tech Summit, Damianos said businesses should adopt artificial intelligence selectively, focusing on tools that solve practical problems, improve decisions and deliver measurable value.

Cybersecurity is becoming equally important as more business activity moves online, he said, linking digital resilience to business continuity, governance and trust. Human resources remain another challenge, with digital investment requiring specialized skills, continuous training and workplaces that can adapt to technological change.

Technology Can Help Smaller Businesses Compete

For Cyprus’ small, open economy, productivity, international market access and the ability to adapt quickly are increasingly important. Damianos said technology can improve customer service, inventory and supply chains in retail, while helping manufacturers increase efficiency, reduce energy and raw-material use, and strengthen quality control.

Small and medium-sized businesses can also use technology to offset disadvantages of scale and create new opportunities for growth.

CIOs Take On A Broader Strategic Role

Damianos said chief information officers are increasingly moving beyond IT systems and infrastructure to participate in business strategy and executive decision-making.

“Security is now a matter of business continuity, corporate governance and trust,” he said.

The government, he added, should not replace private-sector initiative but can reduce barriers, support investment and strengthen cooperation among businesses, technology companies, research institutions and the public sector.

Through funding, skills development and cooperation, Damianos said Cyprus can strengthen productivity, resilience and competitiveness as the economy undergoes its green and digital transition.

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Bending Spoons Buys Miro As SaaS Valuations Continue To Reset

by THEFUTURE.TEAM

September 10, 2026

Bending Spoons is buying Miro for $1.36 billion in cash, implying an equity value of $1.79 billion. That is about 90% below the workplace collaboration company’s $17.5 billion valuation in late 2021.

From Digital Whiteboard To AI Workspace

Founded in 2011 as RealtimeBoard, Miro began as a digital whiteboarding tool for remote teams. Demand surged during the pandemic, helping the company expand from about five million users to roughly 30 million between 2020 and 2022.

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Miro later added more than 250 integrations and partnerships with Atlassian, Cisco, Microsoft and Zoom. Today, it describes itself as an “AI innovation workspace,” offering AI assistants, prototyping tools and integrations with GitHub, Jira and Slack.

Growth Slowed After The Pandemic

Miro now has more than four million paying customers and 100 million total users, with about $600 million in annual recurring revenue. Businesses and enterprises generate roughly 90% of revenue, while the company has about $435 million in net cash and is profitable.

Its valuation decline reflects a broader reset in SaaS markets. As pandemic-driven demand faded, companies cut software spending and consolidated overlapping tools, increasing pressure on stand-alone collaboration platforms competing with broader ecosystems from companies such as Microsoft, Canva and Figma.

Bending Spoons Targets Mature Software

Miro has also reduced its workforce since reaching about 1,200 employees in 2022, cutting 119 positions in February 2023 and another 275 in October 2024, according to its CEO.

The acquisition fits Bending Spoons’ broader strategy of buying established software companies whose valuations have fallen but whose recurring revenue and user bases remain substantial. It previously agreed to acquire Airtable for $1.28 billion after the company had been valued above $11 billion in 2021.

For Bending Spoons, the strategy is a bet on durable revenue and profitability rather than the rapid-growth expectations that drove software valuations during the pandemic.