Yahoo has acquired Ztelic, a Beijing startup focused on social-network data, as first reported by the Wall Street Journal. This is Yahoo’s second acquisition in as many days (something they’ve already done once this summer), and the company’s 19th acquisition under CEO Marissa Mayer.
A Yahoo spokeswoman says the deal is “part of our investment in our R&D efforts” and that eight Ztelic developers and engineers will be joining Yahoo’s research and development team in Beijing.
“Ztelic founder and returning Yahoo, Hao Zheng, will play a critical leadership role in our Beijing Global R&D Center,” the Yahoo spokeswoman tells me. “Hao will split his time between Beijing and Sunnyvale, and the rest of his team will be based in Beijing.”
Ztelic will reportedly sunset its product as it joins Yahoo.
Terms of the deal were not disclosed, but as we learned on Tuesday during Yahoo’s earnings call, the company has plenty of cash left for acquisitions.