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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
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

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

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?