Yahoo buys mobile news start-up Summly from a teen entrepreneur

BT Online Bureau   San Francisco     Last Updated: March 26, 2013  | 09:52 IST

Yahoo Inc on Monday announced that it is planning to buy mobile news reader app Summly from a teenage entrepreneur for an undisclsed amount.

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The London startup Summly, created by 17-year-old Nick D'Aloisio makes it easy to read news stories and other content on the smaller screens of smartphones.

The deal announced Monday is Yahoo's fifth small acquisition in the past five months. All of them have been part of CEO Marissa Mayer's effort to attract more engineers with expertise in building services for smartphones and tablet computers, an increasingly important area of technology that she believed the Internet company had been neglecting.

Summly makes a mobile application that condenses content so readers can scroll through more information more quickly. D'Aloisio began working on the app at his London home when he was 15. He is now 17, which makes him younger than Yahoo, which was incorporated in March 1995.

Although the Yahoo acquisition won't close until later this spring, D'Aloisio said the Summly will no longer be available. Summly's technology will return in other Yahoo products, D'Aloisio wrote in a Monday blog post.

D'Aloisio will work for Yahoo in its London office. Two other Summly workers will join Yahoo at its Sunnyvale, Calif. headquarters.

With AP inputs

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