Wednesday, 27 March 2013 20:43

Yahoo buys Summly

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Continuing their series of taking over smaller companies, Yahoo has announced that it will now acquire Summly Company which specializes in the collection and presentation of news. Summly was founded by 17-year old Nick D'Aloisio two years ago from his home in London, the company has specialized in the collection and sorting of news and adjustment for display on mobile phones.

D'Aloisio stressed that Yahoo would take advantage of the technology that drives Summly to change the way to deliver information such as news, weather forecasts, stock prices and financial information to mobile devices. Yahoo has announced that it will shut down Summly app, but will integrate the company's technology in their various online services.

Terms of the deal were not disclosed, but it is speculated that Yahoo paid about $ 30 million for the company. Summly founder was positive about this move “I'm looking forward to it because they've built a really great environment for start-ups and founders“.

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Read 2199 times Last modified on Monday, 08 April 2013 06:07

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