It was back in August of 2011 when CNN acquired Canada-based Zite, developer of the same-named personalized news reader app. The news network apparently couldn’t monetize on its new venture and is now selling it to the competing service – Flipboard.
Here’s what Flipboard said in a blog post announcing the acquisition:
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 users will be able to continue using the existing Zite app, while Zite experience will be integrated to Flipboard. More details will be announced as they’re available…