CNN acquires iPad news app Zite

CNN
CNN has acquired technology company Zite, developer of a popular iPad news-reading app by the same name, the network announced Tuesday. CNN said in a news release that it would continue to offer Zite as “a separate, stand-alone business that will continue to innovate and provide users with the news and information they want.” The company also can use Zite’s technology to serve more personalized content on CNN.com and its apps, K.C. Estenson, general manager of CNN Digital, said in the news release. The purchase price was not disclosed, but earlier rumors of the deal had estimated it between $20 million and $25 million. The Zite app learns over time which sources and topics each user likes and curates the latest relevant content from the Web into a magazine-like browsing experience. || Earlier: Using social data to personalize news delivery | Competition between Zite and other apps