Evernote to Sell Itself to Italian App Developer Bending Spoons

Evernote Corp., maker of a once-popular note-taking app, agreed to be acquired by the Italian software developer Bending Spoons.

The companies didn’t immediately respond to questions about terms of the deal, but it’s likely an ignominious end for a venture-backed startup long past its prime. Evernote had raised almost $350 million in capital since its founding in 2004, according to the research firm PitchBook.

Evernote was among the first Silicon Valley companies to carry the title of unicorn after securing a $1 billion valuation in 2012. Its co-founder, Phil Libin, spoke prolifically about the company’s lofty mission of ...