Social magazine Flipboard has acquired news reading app Zite from CNN in a deal reportedly worth $60 million.
CNN first acquired Zite back in August 2011, and Flipboard has also made a deal with the news company to syndicate its content.
“We acquired Zite from CNN to address something we’ve heard from a lot of you: although you can already read thousands of sources from over 20 regions on Flipboard, you want easier and better ways to discover content about the things that matter to you. Adding Zite’s expertise in personalization and recommendations to Flipboard’s product experience and powerful curator community will create an unparalleled personal magazine for our millions of readers.”
Zite will continue as a standalone app, and is available on Android, iOS and Windows Phone.
In December, Flipboard raised $50 million in new funding, and it plans on surpassing 150 million users in 2014.
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