Bending Spoons to acquire AOL

Bending Spoons, a prominent mobile app developer based in Europe, has announced its intent to acquire AOL from Yahoo, a company owned by private equity firm Apollo. The acquisition deal is backed by a substantial debt financing package amounting to $2.8 billion, enabling the company to move forward with the purchase. Expected to be finalized by the end of the year, this acquisition is pending several closing conditions and necessary regulatory approvals. Luca Ferrari, CEO and co-founder of Bending Spoons, expressed enthusiasm for the deal, stating, "AOL is an iconic, beloved business that’s in good health, has stood the test of time, and we believe has unexpressed potential." Ferrari highlighted AOL's significant user base, noting it ranks among the top ten email providers globally, with around 8 million daily users and 30 million monthly active users. "We intend to invest significantly to help the product and the business flourish," he added. Bending Spoons has a history of retaining its acquisitions, and Ferrari confidently remarked that they are committed to being the right long-term steward for AOL, aiming to serve its dedicated customer base for years to come. The acquisition news aligns with earlier reports from Reuters indicating that Yahoo was negotiating to sell AOL to Bending Spoons for approximately $1.4 billion. This move represents a new chapter for AOL, a once-dominant internet brand known for its email services and the iconic "You’ve Got Mail" notification. Over the years, AOL has changed hands multiple times, previously owned by Time Warner from 2001 to 2009, and by Verizon Communications from 2015 to 2021. Bending Spoons continues to expand its portfolio, having previously acquired several American brands including Vimeo, Evernote, and Meetup.