Apollo Global Management to Sell AOL to Bending Spoons for $1.5 Billion
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Summary
Apollo Global Management has agreed to sell AOL to Italian tech holding company Bending Spoons for approximately $1.5 billion. AOL continues to generate significant free cash flow with around 30 million monthly active users across its email and web content properties. Bending Spoons specializes in acquiring assets with large user bases and investing in their turnaround. For AOL, this deal represents finding a long-term home after multiple ownership changes in recent years.
Key quotes
· 4 pulledApollo Global Management has reached a deal to sell AOL to Italian tech holding group Bending Spoons in a deal valued at roughly $1.5 billion
AOL still drives hundreds of millions of dollars of free cash flow
Bending Spoons CEO Luca Ferrari said AOL has around 30 million monthly active users across its email and web content properties
Bending Spoons is a privately held Italian holding company that acquires assets with large user bases and invests in their turnaround
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