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Yahoo is acquiring Summly according to a company press release.  Summly is an interesting app, it lets you condense articles into just a few sentences (without losing any substance) so you can consume a lot of information quickly.

Summly was developed a few years ago by Nick D’Aloisio, who at the time was 15.  Since that time, the app has gained a lot of notoriety and publicity.  The acquisition doesn’t come as much of a surprise as we noted back in December that Yahoo was eyeing a number of mobile acquisitions, including Summly.

According to the press release, Summly will no longer exist after the acquisition and Nick and his team will be moving to California (from the UK) to work for Yahoo, which as you know is necessary, considering Yahoo’s new no-telecommute policy.

The acquisition is expected to close in Q2.

Update: According to All Things D Yahoo paid just under $30 million for Summly.

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