Bending Spoons Announces Plan to Acquire AOL

Why It Matters

The purchase gives Bending Spoons a recognizable legacy brand and a sizable consumer audience, expanding its reach beyond mobile apps into email and portal services. It also highlights the ongoing consolidation of aging internet assets by private‑equity‑backed tech firms using leveraged financing.

Deal Summary

Italian software firm Bending Spoons announced plans to purchase AOL from Yahoo after securing a $2.8 billion debt financing package. The company expects the acquisition to close by the end of the year and says it will invest in AOL’s products and business.