Austrian Pet Tracker Giant Tractive Sold to Italy’s Bending Spoons in Landmark Deal
This is arguably Austria’s largest startup — or rather, scale-up — exit by far: the Upper Austrian company Tractive, which specializes in pet trackers, has just announced that it will be sold to the Italian tech company Bending Spoons. The closing of the transaction is expected in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
There is no official information on the purchase price; given Tractive’s known revenue figures and the multiples being paid for tech companies in Europe, Trending Topics estimates it is likely to be in the high three-digit million range.
“Bending Spoons provides the capital, scaling expertise, and AI infrastructure”
The buyer is Bending Spoons, a tech company founded in Milan in 2013 that has evolved in recent years through an aggressive acquisition strategy into one of the most prominent players in the European tech sector. Among its acquisitions are globally well-known companies such as WeTransfer, Evernote, AOL, Vimeo, Meetup, Brightcove, Streamyard, and Remini.
“While we saw significant international interest from various global players, we were determined to find a partner committed to growing and owning the business for the long run,” said Michael Hurnaus, CEO and co-founder of Tractive. “Most importantly, this allows the millions of pet parents who rely on Tractive to continue to enjoy peace of mind, knowing their furry family members are safe. Bending Spoons provides the capital, scaling expertise, and AI infrastructure to ensure that Tractive remains at the cutting edge for decades. This partnership keeps our innovation heart in Europe while gaining the muscle of Bending Spoons at large.”
“Tractive has built an outstanding product that millions of customers trust every day, and we look forward to welcoming it into our portfolio,” said Luca Ferrari, Bending Spoons CEO and co-founder. “We intend to invest significantly in Tractive for the long run—expanding its health and safety capabilities, developing next-generation devices, and making the product increasingly accessible to pet owners everywhere.”
Next growth phase for Tractive
The goal of the acquisition is to leverage Bending Spoons’ “superior AI infrastructure and global scaling expertise” to further scale Tractive. Wolfgang Reisinger, COO of Tractive, adds: “The foundation is rock solid, and now is the right time to hand the baton to a partner with significant expertise in scaling large consumer companies to lead this next phase of growth.”
While the Italians have a reputation for acquiring underperforming digital products with large user bases and then subjecting them to restructuring, Tractive definitely does not fall into this category. The company is known for generating very strong revenues and pursuing a very stable, strongly growing business model.
Well over €100 million in revenue
Tractive CEO Michael Hurnaus had announced for 2024 that revenue was well above 100 million euros, a figure that is likely to have risen significantly further in 2025. The previous year also saw the pet wearables brand Whistle acquired from US pet food group Mars Petcare. Through this acquisition, the Austrian company considerably expanded its presence in the important US market and integrated Whistle’s customer base and technology assets into its portfolio.
Tractive was founded in Austria in 2012 and, according to its own statements, is the world’s leading provider of GPS and health trackers for pets. The company employs around 300 people and serves over 1.4 million active users. Its focus is on the European and North American markets.
Tractive’s most recent shareholders, alongside founders Michael Hurnaus, Michael Lettner, Wolfgang Reisinger, and Michael Tschernuth, included Schlumberger heir Harold Primat (who invested in 2016), GGE Tracker Holding, business angel Hansi Hansmann, Runtastic co-founders Florian Gschwandtner, Rene Giretzlehner, Christian Kaar, and Alfred Luger, as well as investors 468 Capital, Monkfish, Taurus, and Adjacent. This also likely means there will now be substantial returns flowing back into the Austrian startup ecosystem.
Milbank LLP, E+H Rechtsanwälte GmbH, and 42law acted as legal advisors, Ecovis as tax advisor, and Houlihan Lokey as financial advisor to the shareholders of Tractive. Freshfields LLP acted as legal advisor and J.P. Morgan as financial advisor to Bending Spoons, while EY Advisory SpA provided financial and tax due diligence services.
