China Oceanwide and IDG Capital to acquire tech publisher IDG
China Oceanwide Holdings Group Co Ltd and IDG Capital have agreed to acquire Boston-based tech publisher International Data Group. The transaction includes IDG subsidiaries International Data Corp, IDG Communications and IDG Ventures. No financial terms were disclosed. At the closing of the deal, China Oceanwide will have controlling stake of IDG's operating business, which include IDC and IDG Communications while IDG Capital will have controlling stake of IDG Ventures. The transaction is expected to close in the first quarter of this year. Goldman Sachs provided financial advice to IDG and Citigroup did likewise for China Oceanwide.
19 January 2017•6 mins read
