Apollo in Talks to Sell AOL to Bending Spoons for $1.4B
Yahoo's parent company, Apollo Global Management, is in advanced talks to sell AOL to Italian tech giant Bending Spoons for approximately $1.4 billion. The deal, if finalised, would add AOL's substantial user base to Bending Spoons' portfolio of mobile applications.
Bending Spoons, known for its recent acquisitions of WeTransfer and Vimeo, has emerged as a prominent player in Europe's tech landscape. The company, valued at $2.55 billion following a February 2024 funding round, aims to revive struggling tech companies. AOL, which generates revenue through advertising and subscription services like LifeLock and McAfee Multi Access, could be the latest addition to its portfolio.
AOL's website traffic has shown promising growth, with a 20% year-over-year increase among users aged 25 to 54. This growth outpaces the category of users aged 55-plus, indicating a strong appeal to younger audiences. Apollo Global Management acquired Yahoo, including its stake in AOL, from Verizon in 2021, and now looks set to pass the reins to Bending Spoons.
While a final agreement for the sale of AOL to Bending Spoons has not been signed, the deal, if completed, would significantly expand Bending Spoons' user base and further cement its position as one of Europe's leading tech firms. The acquisition would also provide AOL with a new owner committed to reviving its fortunes.
