European mobile app giant Bending Spoons officially announced on Wednesday its agreement to acquire AOL from Yahoo, a move supported by private equity firm Apollo. To facilitate the acquisition, the company has secured a $2.8 billion debt financing package.
Strategic Growth and Market Positioning
The deal, which follows earlier reports of negotiations, is expected to close by the end of the year, pending standard regulatory approvals and closing conditions.
Bending Spoons CEO and co-founder Luca Ferrari highlighted the enduring value of the brand in a formal statement. “AOL is an iconic, beloved business that’s in good health, has stood the test of time, and we believe has unexpressed potential,” Ferrari stated.
AOL’s Continued Relevance
Despite its long history, AOL remains a significant player in the digital landscape. Current estimates place it among the top ten most-used email providers globally, boasting approximately 8 million daily active users and 30 million monthly active users.
Ferrari emphasized a long-term commitment to the platform: “We intend to invest significantly to help the product and the business flourish. Bending Spoons has never sold an acquired business—we’re confident we’re the right long-term steward for AOL.”
A New Chapter for a Legacy Brand
This acquisition marks the latest transition for the internet pioneer, famous for its “You’ve Got Mail” notification. AOL has navigated a complex corporate history, having been owned by Time Warner (2001–2009) and Verizon Communications (2015–2021) before its tenure under Yahoo.
For Bending Spoons, the purchase of AOL continues an aggressive expansion strategy into the American market, following a string of acquisitions that includes notable brands such as Vimeo, Evernote, and Meetup.