Bending Spoons, one of Europe’s biggest mobile app developers, has announced that it will acquire AOL from Yahoo, which is owned by Apollo Global Management. The company revealed that it has secured a massive $2.8 billion debt financing package to support this deal. The acquisition is expected to close by the end of this year, subject to regulatory approvals and other closing conditions.
Luca Ferrari, the CEO and co-founder of Bending Spoons, called AOL an “iconic and beloved business” that still has “unexpressed potential.” In a statement, he said, “By our estimation, AOL is one of the top ten most-used email providers in the world, with a highly retained customer base counting around 8 million daily and 30 million monthly active users.”
Ferrari also highlighted that Bending Spoons plans to invest heavily in AOL to help the business grow further. He added that the company has never sold any of its acquired businesses and aims to be a long-term caretaker of the AOL brand.
This news was not entirely unexpected. Earlier this month, Reuters reported that Yahoo was in advanced talks to sell AOL to Bending Spoons.
AOL was once one of the most recognized names on the internet. It became famous in the early days of the web for its dial-up internet service, popular email platform, and the memorable “You’ve Got Mail” notification sound.
Over the decades, AOL has changed hands several times. It was owned by Time Warner from 2001 to 2009, later by Verizon Communications from 2015 to 2021, and most recently by Yahoo under Apollo’s ownership. Each ownership change reflected the company’s shifting role in a fast-evolving digital world.
The acquisition of AOL continues Bending Spoons’ trend of buying well-known American digital brands. The Milan-based company has already acquired Evernote, Vimeo’s core technology, and Meetup, among others. These acquisitions show Bending Spoons’ ambition to become a global digital powerhouse, managing a diverse portfolio of established platforms.
For AOL’s millions of users, this deal could bring good news. Bending Spoons is known for transforming and revitalizing older digital products with new design, technology, and business models. If the company applies the same approach here, AOL could see a fresh revival in its email services and other offerings.
