Bending Spoons to acquire AOL from Yahoo in latest expansion move

Italian software company Bending Spoons has announced plans to acquire AOL from Yahoo, marking the latest chapter in the decades-long evolution of the once-dominant internet pioneer. The deal follows Bending Spoons’ recent acquisition spree, which includes platforms such as Brightcove, Evernote, Meetup, and WeTransfer, and comes alongside a $2.8 billion debt financing package to fund the transaction and future mergers.

The acquisition, expected to close by the end of 2025 pending regulatory approval, will see AOL — still operating its web portal and email service — transition under new ownership once again. Bending Spoons CEO Luca Ferrari said the company plans to make “significant investments” to enhance AOL’s products and operations, emphasizing that Bending Spoons has never sold any of its acquired businesses. According to the company, AOL remains among the top 10 global email providers, with approximately 8 million daily and 30 million monthly active users.

For Yahoo, the sale represents a strategic narrowing of focus. CEO Jim Lanzone stated that the transaction will allow Yahoo to accelerate development across its core products while ensuring AOL continues to operate independently under new leadership. Reed Rayman, Chair of Yahoo’s Board and Partner at Apollo, which owns Yahoo, described the sale as part of a broader effort to strengthen Yahoo’s investments in AI-powered media and advertising technologies.

AOL, one of the most recognizable brands from the early internet era, has changed hands multiple times over the past two decades — from its merger with Time Warner in 2001 to sales involving Verizon and Apollo Global Management. The company formally ended its dial-up internet service last year, closing a major chapter in internet history.

The $2.8 billion financing package, provided by a consortium of major global banks including Goldman Sachs, BNP Paribas, and J.P. Morgan, underscores Bending Spoons’ ambition to expand its portfolio of digital platforms. The Milan-based firm is also awaiting regulatory clearance for its proposed acquisition of Vimeo, expected to close in the fourth quarter of 2025.

If completed, the AOL deal will further cement Bending Spoons’ position as one of the most active acquirers in the global software market, adding another legacy digital brand to its expanding ecosystem.