AOL is being sold to Italian tech company Bending Spoons for $1.5 billion. The New York-based platform was once a dominant internet company in the ’90s and early 2000s. At the time, the website offered innovative and user-friendly instant messaging, chat rooms, and email. The service company is now mainly used for internet privacy and protection software, along with its search engine and email platform. Last month, the Wall Street Journal reported the deal could rake in about $1.5 billion. CEO of the acquirer, Luca Ferrari, said the company plans to “invest significantly to help the product and the business flourish.” The Italian company is known for acquiring productivity and media apps like Evernote, Remini, and WeTransfer.

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