According to a Monday blog post by Adam Cahan, Yahoo's SVP of mobile and emerging products, Yahoo is acquiring London-based news summarising startup Summly, the developer of a mobile app which facilitates users in reading news stories and other content on the smaller screens of smartphones.

Yahoo's Summly takeover will be the fifth acquisition deal struck by the company in the last five months. All of the recent acquisitions by the company have been part of the attempts being undertaken by the company's CEO Marissa Mayer for attracting an increasing number of engineers who have proven expertise in developing services for smartphones and tablets.

With reference to the Summly acquisition - the financial terms of which still remain officially undisclosed -, Cahan said in the blog post that the present-day `constant information' world requires new methods for to simplifying the manner in which consumers can find, in a quick look, stories which are important to them.

Under the terms of the acquisition deal, which is likely to be completed in the second quarter, the Summly app - which shows the users summarised inline content, so that they can browse news quickly and easily - will close; and the Summly team will join Yahoo.

Noting that the Summly vision is "to simplify how we get information," Summly founder Nick D'Aloisio said in a statement: "We are thrilled to continue this mission with Yahoo's global scale and expertise."