CNN has purchased Canopy to launch forthcoming news aggregation service

CNN has acquired Canopy, the maker of a news reader app whose tech CNN plans to use for its forthcoming news aggregation service, the Wall Street Journal reports. CNN didn’t disclose the financial details of the deal.

Canopy has 15 employees in Massachusetts and New York who now work for CNN under the terms of the purchase deal.

Canopy launched the app Tonic, which gives personalized recommendations to its users based on what they read; CNN is planning on phasing that app out in favor of its own project, NewsCo, the WSJ notes.

“This acquisition enables us to light up in a single transaction a proven, best-in-class team whose deep knowledge and skill sets would’ve taken many months or even years to assemble,” said CNN EVP & Chief Digital Officer Andrew Morse. “Canopy’s culture of fast-cycle, iterative software and product development will enable us to more rapidly realize our ambitions and deliver against our goals.”

NewsCo doesn’t have a launch date yet.

Categories: CNN

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