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Bending Spoons on Wednesday secured a $330 million investment from existing shareholder Berkshire Hathaway.

Why it matters: The Italian software conglomerate, known for buying legacy brands like AOL and Vimeo, now has more dry powder for M&A.

Its shares also jumped more than 41% on the news, hitting an all-time high.

Catch up quick: Berkshire Hathaway, now led by Greg Abel, first backed Bending Spoons in July, investing $600 million at IPO. Its stake is now around 4 percent.

The bottom line: It's hard to see software-averse Warren Buffett having done this deal.

Berkshire invests $330 million into AOL owner Bending Spoons

The Italian software conglomerate, known for buying legacy brands like AOL and Vimeo, now has more dry powder for M&A.

Illustration of a spoon bending under the weight of the money it's holding. 

Illustration: Aïda Amer/Axios. Stock: Getty Images

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Bending Spoons on Wednesday secured a $330 million investment from existing shareholder Berkshire Hathaway.Why it matters: The Italian software conglomerate, known for buying legacy brands like AOL and Vimeo, now has more dry powder for M&amp;A.

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Berkshire invests $330 million into AOL owner Bending Spoons

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