Previously rumored and now official, CNN is acquiring free iPad news app Zite, which organizes news content into a magazine-like format for users of the Apple tablet.

Zite takes user preferences into account in aggregating the content it displays, “getting smarter as it’s used.” It will remain a separate, stand-alone business.

Zite CEO Mark Johnson will continue to oversee day-to-day operations from the company’s headquarters in San Francisco, reporting to CNN Digital general manager K.C. Estenson. Terms of the agreement were not disclosed but AllThingsD reports CNN paid between $20 and $25 million dollars.