Search giant Google (NASDAQ:GOOG) is rumored to be spending $30 million to acquire news summary service Wavii.
There had long been a competitive spirit between the two smaller firms. In separate interviews last year the two were both at pains to point out their differences. According to executives at the time, Summly had a better user interface while Wavii offered a more flexible set of software to reduce news stories to short sentences.
Neither Wavii nor Google had any comment on the pending deal. However, a source said that most of Wavii’s employees will be relocating to Google’s Mountain View campus.