Yahoo acquires mobile news start-up Summly

March 25 Mon Mar 25, 2013 10:33am EDT

March 25 (Reuters) - Yahoo Inc has snapped up mobile news aggregator Summly, the companies said on their websites on Monday.

Summly, founded by 17-year-old Nick D'Aloisio, sorts news by topics in quick bites for smartphones. The start-up works closely with News Corp and is backed by Chinese investor Li Ka-Shing and angel investors including the actor Ashton Kutcher and the artist and designer Yoko Ono.

The Summly app will be removed from the Apple Inc store and will be integrated into Yahoo's mobile initiatives.

Terms of the deal were not disclosed.

Yahoo has acquired several small mobile and web start-up companies since former Google executive Marissa Mayer became chief executive last year.

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