Italian tech firm Bending Spoons is set to acquire AOL from Yahoo (backed by Apollo Global Management) after securing a $2.8 billion debt financing package aimed at supporting the deal and its broader R&D and M&A ambitions. 

Under the agreement, Bending Spoons emphasises that AOL—once a dominant internet brand—still commands strong fundamentals, including around 30 million monthly users and 8 million daily actives, placing it among the top ten email services globally. 

This move aligns with Bending Spoons’ aggressive expansion strategy: the Milan-based company has previously acquired platforms like Vimeo and WeTransfer and is now financing its most ambitious acquisition to date. 

The financing consortium includes major global banks such as Goldman Sachs, HSBC, JP Morgan and UniCredit, underscoring the scale and ambition of the acquisition.

With the acquisition expected to close by year-end, Bending Spoons aims to revitalise AOL’s legacy business through technology investment while broadening its global reach and strengthening its position in digital services.