Milan-based technology company Bending Spoons has inked a deal to acquire AOL from Yahoo and private equity parent Apollo , saying it will position the historic web portal and email provider for its next phase of growth.

The deal is expected to close by year end.

Financial terms weren’t disclosed but Bending Spoons also announced the successful completion of a $2.8 billion debt financing package for the AOL deal as well as future M&A. The fast growing company last month unveiled an agreement to acquire Vimeo, a transaction also expected to close by the end of 2025. Its other brands include Brightcove, Evernote, komoot, Meetup, Remini, StreamYard and WeTransfer.

“AOL is an iconic, beloved business that’s in good health, has stood the test of time, and we believe has unexpressed p

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