New updates have been reported about Bending Spoons (PC:BENDI)
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Bending Spoons, a leading mobile app developer in Europe, has announced its agreement to acquire AOL from Yahoo, with the backing of private equity firm Apollo. The acquisition is supported by a substantial $2.8 billion debt financing package and is anticipated to finalize by the end of the year, pending regulatory approvals and other closing conditions. This move marks a significant expansion for Bending Spoons, as it aims to leverage AOL’s established presence in the email service sector, which boasts around 8 million daily and 30 million monthly active users.
Luca Ferrari, CEO and co-founder of Bending Spoons, emphasized the enduring value and potential of AOL, describing it as an ‘iconic, beloved business.’ He expressed confidence in Bending Spoons’ ability to nurture and grow AOL, highlighting the company’s history of retaining acquired businesses rather than selling them. This acquisition aligns with Bending Spoons’ strategy of expanding its portfolio with established American brands, following previous acquisitions of companies like Vimeo, Evernote, and Meetup. The purchase of AOL not only enhances Bending Spoons’ market position but also signals a commitment to investing in and revitalizing legacy internet brands. Stakeholders can expect Bending Spoons to focus on enhancing AOL’s offerings and maintaining its loyal customer base, potentially unlocking new growth opportunities in the digital communication landscape.