engine - 2:56 pm on Mar 25, 2013 (gmt 0)
An app created by a UK teenager has been acquired by web giant Yahoo in a deal the BBC understands to be worth "dozens of millions" of pounds.
Seventeen-year-old Nick D'Aloisio's Summly app summarises news stories from popular media companies.
Neither company would disclose the terms of the deal publicly.
The app itself will now close, but its features will be used in mobile products at Yahoo, where Mr D'Aloisio has been given a job.Yahoo Acquires Summly News App [bbc.co.uk]
Yahoo's announcement on Summly.
Today, we’re excited to share that we’re acquiring Summly, a mobile product company founded with a vision to simplify the way we get information, making it faster, easier and more concise.Yahoo! To Acquire Summly [ycorpblog.com]