JAKARTA. Yahoo! Indonesia announced today that it has agreed to return all trademarks and domain pertaining to Koprol to the founders of the geo-tagging based website.

Koprol, launched by founders Satya Witoelar, Fajar Budiprasetyo and Daniel Armanto in 2009, was a site that Yahoo! Indonesia acquired in 2010 to compete against similar sites such as Foursquare.

However, Yahoo! Indonesia announced last month that it would relinquish this site in an effort to streamline its business.

"Yahoo! has worked with us and we have reached a satisfying decision for both sides," Satya Witoelar, former product manager for Yahoo! Koprol, said in a press release sent to The Jakarta Post.

The release, however, did not provide further details on the deal struck between both sides.

Koprol will fully shut down on August 28.

Yahoo! has been facing a global downturn. Marissa Mayer has recently been hired as CEO to resuscitate the technology giant. (Mariele Grazella)

Editor: Edy Can