Chinese Investors Buy for $900 Million

If you do this for me...
Studio shot of two men shaking hands after making a monetary deal
Photograph by Getty Images

Advertising technology startup said Monday it had been acquired for about $900 million in cash by a group of Chinese investors.

The consortium is led by Zhang Zhiyong, the chairman of telecom firm Beijing Miteno Communication Technology.

Zhiyong said Miteno will now focus on expanding’s presence in China, following the company’s successful run in the United States., a Yahoo (YHOO) ad partner, posted revenue of $232 million in 2015, with more than half coming from mobile users.

The company is based in Dubai and New York and is led by technology entrepreneur Divyank Turakhia.

Get Data Sheet, Fortune’s technology newsletter.’s products, which are licensed by various publishers and ad networks, auto-learn and display the most relevant ads to users.

The business attracted seven bidders, said. The company said the acquisition is the third-largest ad tech deal.

The Chinese consortium has already paid $426 million, with the remainder to follow, the company said.

Miteno’s shares have been halted since December.

Subscribe to Well Adjusted, our newsletter full of simple strategies to work smarter and live better, from the Fortune Well team. Sign up today.

Read More

Artificial IntelligenceCryptocurrencyMetaverseCybersecurityTech Forward