Bending Spoons To Acquire Aol

Bending Spoons, 1 of Europe’s largest mobile app developers, announced connected Wednesday that it has agreed to bargain AOL from Yahoo, which is backed by backstage equity elephantine Apollo. Bending Spoons says it has secured a $2.8 cardinal indebtedness financing package to support nan purchase.

The acquisition is expected to adjacent by nan extremity of nan twelvemonth and is taxable to closing conditions and regulatory approvals.

“AOL is an iconic, beloved business that’s successful bully health, has stood nan trial of time, and we judge has unexpressed potential,” said Bending Spoons CEO and co-founder, Luca Ferrari, successful a press release.

“By our estimation, AOL is 1 of nan apical 10 most-used email providers successful nan world, pinch a highly retained customer guidelines counting astir 8 cardinal regular and 30 cardinal monthly progressive users,” he continued. “We intend to put importantly to thief nan merchandise and nan business flourish. Bending Spoons has ne'er sold an acquired business—we’re assured we’re nan correct semipermanent steward for AOL, and look guardant to serving its large, loyal customer guidelines for galore years to come.”

The news doesn’t travel arsenic a surprise, arsenic Reuters reported earlier this period that Yahoo was successful talks to waste AOL to Bending Spoons for astir $1.4 billion.

Wednesday’s news signals a caller section for AOL, which was erstwhile 1 of nan astir recognized brands connected nan internet, known for its email work and “You’ve Got Mail” notification. AOL has had respective owners complete nan past decades. It was owned by Time Warner from 2001 to 2009, and past by Verizon Communications from 2015 to 2021.

The acquisition marks Bending Spoon’s latest acquisition successful a drawstring of different American brands for illustration Vimeo, Evernote, Meetup, and more.