Bending Spoons Is Buying Aol For Some Reason

AOL will soon person a caller owner. Bending Spoons, nan Italian package institution that has bought up a scope of different integer businesses like Evernote, MeetUp, WeTransfer, and soon Vimeo, announced plans to acquisition AOL from Yahoo aft securing a $2.8 cardinal indebtedness financing package.

Over nan past mates of decades, AOL has been passed from institution to company, merging pinch Time Warner successful 2001 earlier getting spun disconnected and sold to Verizon successful 2015 for $4.4 billion. Verizon merged AOL and Yahoo into a caller company, called Oath, which it offloaded to backstage equity patient Apollo Global Management for astir $5 cardinal successful 2021. AOL was placed nether nan Yahoo umbrella pursuing nan acquisition.

AOL still offers a web portal and email service, though it recently unopen down dial-up internet work aft much than 3 decades.

Bending Spoons has made a flurry of acquisitions successful caller years, a fewer of which were followed by layoffs and, successful immoderate cases, higher prices for customers. The institution expects its acquisition of AOL to adjacent by nan extremity of this year, pinch CEO Luca Ferrari saying that Bending Spoons will “invest importantly to thief nan merchandise and business flourish.”

Even though it’s difficult not to deliberation astir which institution will get AOL next, Ferrari says successful nan property merchandise that Bending Spoons has “never sold an acquired business,” and will service AOL’s “large, loyal customer guidelines for galore years to come.”