Bending Spoons, the recently public software company, said this week it has secured backing from Berkshire Hathaway for its initiative to breathe new life into so-called software castoffs — dormant or abandoned applications and codebases that companies have shelved.
The endorsement comes fewer than four months after Bending Spoons completed its listing, and represents an early vote of confidence from one of the world’s most closely watched investment houses. The move is notable both for the speed with which the company attracted outside support after going public and for the profile of the investor involved.
Bending Spoons has described the project as a way to identify, refurbish and re-deploy software that might otherwise remain unused, a concept that could lower development costs and shorten time to market for refreshed products. Industry observers say programs that repurpose legacy or abandoned code can also reduce waste and capture value from assets that companies may not have the resources or appetite to maintain themselves.
Analysts say backing from a prominent investor can bolster a young public company’s credibility and provide additional capital or strategic support as it pursues new initiatives. Details about the scope and terms of Berkshire Hathaway’s involvement were not immediately clear from the initial announcements.
The deal underscores a broader interest among investors in finding ways to monetize overlooked technology assets. If the plan succeeds, it could encourage other firms to take a second look at dormant software as a source of innovation and revenue.