Flipboard, the platform to discover, collect and share the news users care about, acquired Zite, a San Francisco, CA-based news app for the iPad.
CNN, which had aquired Zite in 2011 (read here), was the seller in this transaction, whose amount was not disclosed.
The deal aims to bring together Flipboard’s curation team, publisher network, and scale with Zite’s recommendations technology and expertise in topic-based discovery.
Following the close, the Zite app will be shut down (following a transition period) and the teams of the two companies will merge.
Zite’s CEO Mark Johnson won’t be joining Flipboard.
Announcement by Flipboard here
Announcement by Zite here
Announcement by Mark Johnson here
FinSMEs
06/03/2014