Internet giant Yahoo! is to acquire mobile product company Summly for an undisclosed sum.
Yahoo! announced the deal today in a blog post by Adam Cahan, senior vice-president of mobile and emerging products.
Summly is an app that allows users to browse news quickly and easily, by showing them concise summaries of online content.
“Our vision is to simplify how we get information and we are thrilled to continue this mission with Yahoo!’s global scale and expertise,” Summly founder Nick D’Aloisio said in a statement.
“I discovered that Yahoo! has an inspirational goal to make people’s daily routines entertaining and meaningful, and mobile will be a central part of that vision. For us, it’s the perfect fit.”
In Yahoo!’s blog post, Cahan wrote about living in a world of constant information that requires new ways to simplify how consumers find, at a glance, stories that are important to them.
"Mobile devices are shifting our daily routines, and users have changed not only what, but how much information they consume,” Cahan wrote. “Yet most articles and web pages were formatted for browsing with mouse clicks. The ability to skim them on a phone or a tablet can be a real challenge – we want easier ways to identify what’s important to us.”
Under the deal, the Summly app will close and the Summly team will join Yahoo!
The acquisition is expected to close in the second quarter.
Get your early bird tickets now!