China Oceanwide completes its purchase of IDG

The tech publishing pioneer and analyst group IDC are part of the deal

The sale of tech publishing pioneer International Data Group to China Oceanwide Holdings Group and China-based IDG Capital is final.

The deal for China Oceanwide Holdings Group to acquire a majority stake in International Data Group was first announced in January. Tech analyst firm IDC and venture capital firm IDG Ventures are included in the deal.

China Oceanwide hosted an event in Bejing Wednesday to announce the closing of the deal. The companies did not disclose the terms of the sale.

China Oceanwide has said it will focus on growth at IDG and IDC.

IDG publishes PCWorld, Computerworld, CIO, CSO Macworld, InfoWorld, CSO, Network World, IDG.tv, and hundreds of other publications worldwide. IDG, which operates in 97 countries, is also the parent company of the IDG News Service.

IDG was founded in 1964 by Patrick McGovern, who died in March 2014. Since then, the company has been run by a board of directors, which has been seeking a buyer for about a year.

China Oceanwide is a privately held international conglomerate founded by Chairman Zhiqiang Lu in 1985. The company operates businesses in the financial services, real estate assets, media, technology, and strategic investment markets, and it has more than 12,000 employees globally.

The company purchased a stake in Lenovo's parent company, Legend Holdings, in 2009. It has continued to expand globally and in October last year, it agreed to buy U.S.-based insurance firm Genworth Financial for US$2.7 billion in cash.

IDG Capital is an independently operated investment management partnership, with IDG as one of many limited partners. It was formed in 1993 as China’s first technology venture investment firm.

China Oceanwide will be the controlling shareholder of IDG's operating businesses, including IDC and IDG Communications, while IDG Capital will become the controlling shareholder of the IDG venture business. 

IDG will continue to be headquartered in Boston, Massachusetts, and managed by its current team.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?