Popular news reader app Flipboard, has acquired rival app Zite, from CNN in a deal worth $60 Million.
CNN had originally acquired Zite in 2011, in a deal reportedly worth $20 Million.
Flipboard co-founder and Chief Executive Officer Mike McCue (pictured above) said that, the reason they acquired Zite was it’s technology and recommendation engine, which helps readers discover content. “We are going to integrate that technology into Flipboard,” McCue said.
Sadly, he also said that Zite will cease to exist, but users can continue to use the current version of the app.
Flipboard sells advertising for revenue, and will now feature content from CNN, in it’s app as part of the agreement.
In other news about Flipboard, the app was updated today to add Google+ sign in. You can update it from the Play Store or install it using the widget below
If you haven’t tried Zite, I advise getting it from Google Play before it is taken down:
An update for Flipboard incorporating the features of Zite should be coming soon. We will update you when it is live.