Bending Spoons to Acquire AOL Following $2.8 Billion Debt Financing
Bending Spoons Technology company has announced a definitive agreement to acquire AOL, the long-standing web portal and email provider, from Yahoo Inc. The deal, which marks a major milestone in the evolution of both companies, is expected to close by the end of the year, pending customary regulatory approvals and closing conditions.
A New Chapter for an Internet Pioneer
Once a dominant force in the early internet era, AOL remains a recognizable and enduring brand in the digital communications space. Through this acquisition, Bending Spoons aims to reinvigorate the legacy business, leveraging its expertise in technology transformation to unlock new growth opportunities.
“AOL is an iconic and beloved brand that has stood the test of time and continues to serve millions of users,” said Luca Ferrari, CEO and co-founder of Bending Spoons. “By our estimation, AOL remains among the top ten most-used email providers globally, with approximately 8 million daily and 30 million monthly active users. We believe the platform still holds tremendous untapped potential, and we intend to invest heavily to help it flourish.”
Ferrari emphasized that Bending Spoons’ approach to acquisitions is guided by a long-term vision. “We have never sold an acquired business. We see ourselves as dedicated stewards of the brands we take on, and we are committed to ensuring AOL continues to serve its loyal community for decades to come.”
Yahoo’s Strategic Refocus
For Yahoo, the sale of AOL represents a strategic shift that will allow the company to channel greater focus and resources into its core businesses and new initiatives, particularly those involving artificial intelligence and next-generation digital experiences.
“AOL and Yahoo share a deep history, and it has been rewarding to see AOL return to growth in recent years,” said Jim Lanzone, CEO of Yahoo, Inc. “This transaction enables us to sharpen our focus on the ambitious roadmaps we’ve laid out for Yahoo’s core products, while ensuring AOL continues to thrive under new ownership.”
Reed Rayman, Chair of Yahoo’s Board of Directors and Partner at Apollo Global Management, added that the transaction builds on the progress achieved since Apollo acquired Yahoo in 2021. “Over the past few years, we’ve driven transformational reinvestment across Yahoo’s media and technology assets,” Rayman said. “This divestiture positions AOL well for its next phase of growth, while allowing Yahoo to accelerate investments in its flagship platforms and AI-powered innovations.”
Strengthening Bending Spoons’ Portfolio
The addition of AOL continues Bending Spoons’ rapid expansion into major global digital brands. Just last month, the company announced a definitive agreement to acquire Vimeo, the video hosting and streaming platform, in a transaction expected to close in the fourth quarter of 2025. Like the AOL deal, the Vimeo acquisition remains subject to shareholder and regulatory approvals.
Both transactions underscore Bending Spoons’ growing role as a consolidator in the global digital ecosystem—acquiring, transforming, and sustaining established technology brands with strong user bases.
$2.8 Billion Debt Financing Package
To fund the AOL acquisition and fuel its broader mergers and acquisitions strategy, Bending Spoons has secured $2.8 billion in debt financing. The comprehensive financing package includes committed Term Loan A and Term Loan B facilities, along with expanded Revolving Credit Facility commitments.
The Term Loan B syndication will be co-led by J.P. Morgan Chase Bank N.A. in the United States, and by BNP Paribas, Crédit Agricole CIB, J.P. Morgan SE, and UniCredit in Europe.
“We deeply appreciate the trust and support of so many of the world’s top financial institutions,” Ferrari said. “This funding reflects confidence in our strategy and strengthens our ability to continue acquiring and transforming digital businesses worldwide. It provides the long-term flexibility we need to scale responsibly while maintaining a disciplined approach to growth.”
Advisors on the Transaction
Several top-tier advisory firms supported the deal.
- Bending Spoons was advised by Greenhill, a Mizuho affiliate, and Wells Fargo on financial matters. Willkie Farr & Gallagher LLP served as legal counsel, while EY Advisory SpA and EY SLT provided financial and tax due diligence services.
- Yahoo was represented by J.P. Morgan Securities LLC and Allen & Company LLC as financial advisors, with legal counsel from Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP.
About Bending Spoons
Founded with a mission to acquire and transform digital businesses for the long term, Bending Spoons has built a diverse portfolio of global technology brands. Its holdings include Brightcove, Evernote, komoot, Meetup, Remini, StreamYard, WeTransfer, and several others. Together, these products serve more than one billion users, attract over 300 million monthly active users, and include 10 million paying customers, among them many Fortune 500 enterprises.
What sets Bending Spoons apart is its “forever-hold” philosophy—the company has never sold an acquired business. Instead, it commits to long-term stewardship, reinvesting heavily in technological modernization, design overhauls, accelerated feature releases, marketing optimization, and organizational restructuring aimed at sustained performance improvement.
Through this model, Bending Spoons has consistently revitalized legacy digital products, transforming them into high-performing modern platforms. The acquisition of AOL represents another step in this ongoing effort to preserve and grow some of the internet’s most recognizable brands.
A Strategic Move with Global Implications
The AOL acquisition not only strengthens Bending Spoons’ position as a major player in the digital media and communications landscape but also highlights the ongoing realignment of the internet industry. As legacy brands seek renewal and newer technology players pursue scale and integration, transactions like this one illustrate the continued evolution of the online ecosystem.
With fresh capital, a clear vision, and a growing portfolio of high-impact digital platforms, Bending Spoons appears poised to shape the next era of global digital innovation—one where heritage and modernity meet to create enduring value.
