You’ve got… a new owner!

AOL , the trailblazing internet company, is being acquired by Italian tech roll-up company Bending Spoons . Bending Spoons is buying AOL from private equity firm Apollo Global Management , which in 2021 bought Yahoo (inclusive of the AOL brand) from Verizon . The acquisition is expected to close by the end of 2025, subject to customary closing conditions and regulatory approvals.

Deal terms weren’t disclosed. Bending Spoons is buying AOL for about $1.5 billion, Axios reported . AOL generates around $400 million in annual earnings before interest, taxes, depreciation and amortization, with revenue of more than $500 million, according to a Wall Street Journal report .

AOL currently has about 8 million daily active users and 30 million monthly active use

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