Yahoo is acquiring Summly, a mobile product company run a by 17-year old, from his London home.

Mr. D’Aloisio and the Summly team will be joining Yahoo. While the Summly app will close, says Yahoo, users will see the technology used throughout Yahoo’s mobile experiences soon.

At the age of 15, Nick D’Aloisio created Summly, an app that generates summaries from news sources. Summly has backing from Horizons Ventures. Angel Investors and advisors include Ashton Kutcher, Betaworks, Brian Chesky, Hosain Rahman, Jessica Powell, Joanna Shields, Josh Kushner, Mark Pincus, Matt Mullenweg, Seb Bishop, Shakil Khan, Spencer Hyman, Stephen Fry, Troy Carter, Vivi Nevo, and Yoko Ono, among others, according to the Summly website.