Yahoo’s purchasing list continues to extend with the company acquiring a Beijing startup, , Ztelic, this time focused on social-network data. According to a report from Wall Street Journal, this is Yahoo’s 19th acquisition under the decree of the company’s new chief executive officer, Marissa Mayer. The company has been on a mass revamping lately with its entire product line up being tweaked to improve customer experience.
As stated by a spokesman from the company, “the deal is part of our investment in our R&D efforts and eight Ztelic developers and engineers will be joining Yahoo’s research and development team in Beijing.” Yahoo plans to pursue its research and development activities through Ztelic in its global R&D center based in Beijing. Ztelic founder, Hao Zheng, is in the leadership for the firm’s R&D which will continue in Ztelic’s premise. It is reported that Ztelic will bring an end to its products while joining Yahoo. Although terms for the deal as well as its market value has not been disclosed yet, but Yahoo’s earning call held recently has brought to light that the company is still sitting on a huge pile of cash which could be potentially spent on a few more acquisitions.
Ztelic will definitely boost Yahoo’s social networking business with the company gaining its hand with the latest inception of Tumblr to its fleet of online services.