Irish telecom tycoon Denis O'Brien has purchased a minority interest in US tech startup Spritz, according to The Irish Times.

Co-founded by entrepreneur Frank Waldman, the two-year-old Spritz makes it easier for users of mobile and wearable gadgets to read words on the screen. The startup streams words one by one in a customized display to make reading easier on smaller screens such as those on smartphones and smartwatches, the report detailed.

During the Mobile World Congress held in Barcelona, IBRC director Tom Hunersen told The Irish Times that he became the adviser of Spritz last year in March. He also said O'Brien was interested how the Spritz product could impact the literacy status in the developing areas, the report explained.

Hunersen said: "Denis is always interested in the next thing and he was very interested. We were in the middle of a fundraising round and he decided to take a strategic stake."

O'Brien is expected to assign a member of the board who will represent his stake in Spritz for the next few months, The Irish Times reported.