Bending Spoons Acquires AOL: A New Chapter for the Digital Pioneer

In a move that’s raising eyebrows across the tech world, Bending Spoons, an Italian software company, has announced its intention to acquire AOL from Yahoo. This acquisition, backed by a $2.8 billion debt financing package, signals a new chapter for the once-dominant internet service. The deal, expected to close by the end of this year, marks yet another transition in AOL’s long and winding history.

AOL’s Journey Through the Digital Landscape

Over the past couple of decades, AOL has been passed between several major players in the tech industry. It merged with Time Warner in 2001, only to be spun off and later sold to Verizon in 2015 for $4.4 billion. Verizon subsequently merged AOL and Yahoo into a new entity called Oath, which was then offloaded to private equity firm Apollo Global Management in 2021 for approximately $5 billion. Following this, AOL was placed under the Yahoo umbrella.

Bending Spoons’ Acquisition Strategy

Bending Spoons, known for its acquisitions of digital businesses like Evernote, MeetUp, WeTransfer, and soon Vimeo, is now adding AOL to its portfolio. The company’s CEO, Luca Ferrari, stated that Bending Spoons plans to “invest significantly to help the product and business flourish.” This strategy has raised questions, particularly given that some of Bending Spoons’ previous acquisitions were followed by layoffs and price increases for customers.

What AOL Offers Today

Despite the changing landscape of the internet, AOL still provides a web portal and email service. However, it recently ceased its dial-up internet service after more than three decades. The acquisition by Bending Spoons may signal an attempt to revitalize these core offerings.