NEWS22 July 2013

Zheng returns as Yahoo buys Beijing’s Ztelic

Asia Pacific M&A

CHINA — Yahoo has made its 19th acquisition under the watch of CEO Marissa Mayer with the purchase of Beijing-based Ztelic.

Ztelic founder Hao Zheng returns to Yahoo where he had previously worked for nearly a decade and the company said he planned to split his time between Yahoo’s Beijing offices and the company’s headquarters in California, while the rest of his team will be based in Beijing.

In a statement, Yahoo said: “As part of our investment in our R&D efforts, we’re bringing on a talented team of eight developers and engineers from Ztelic. Hao Zheng, will play a critical leadership role in our Beijing Global R&D Centre.