If you're a fan of news aggregating service Summify, we have some bad news: the service has been purchased by Twitter and all of Summify's features will be phased out in the coming weeks. Summify went through a few changes since launching a private beta in March 2010, but had recently found success by using an algorithm to automatically pull the most important stories from your Facebook, Twitter, and RSS feeds and present them to you in an email digest, on the web, or through an iPhone app.

There's no word on whether or not these features will be rolled over to Twitter in any way, but Summify closed registrations today and its app is no longer available on the US iTunes store. It has also disabled a number of features, including public summaries, profiles, and influence pages. And while summaries will continue to be delivered to current users, Summify said in its FAQ that at some point the whole product would be shut down. So unfortunately, users will need to look elsewhere to pick the highlights out of their various feeds.