Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have completed their previously announced acquisition of International Data Group, Inc. (“IDG”) from Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise value of $1.3 billion.
For over five decades, IDG has provided market intelligence for the fast-growing technology industry, delivering proprietary insights and data for technology suppliers and buyers. The company operates two subsidiaries, International Data Corporation (IDC) and IDG Communications (IDGC), focused on delivering proprietary data, innovative platforms, and trusted content for the $5 trillion technology industry. IDC is a premier global provider of market intelligence data and research for the IT, telecommunications, and consumer technology markets. IDGC combines a proprietary marketing technology platform and a global portfolio of leading editorial brands.
Peter Wallace, Global Head of Core Private Equity and Vikram Suresh, Managing Director at Blackstone, said: “We are very excited about IDG’s future as the company continues to demonstrate a strong focus on growth. We look forward to partnering with IDG in the years ahead to help the company further expand its product offerings and drive ongoing technology innovation.”
Goldman Sachs & Co. LLC acted as exclusive financial advisor to IDG, and King & Wood Mallesons and Mintz acted as legal advisors to IDG. Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About International Data Group
International Data Group, Inc. (IDG) is at the heart of technology, and we believe technology exists to make the world a better place. IDG has been ingrained in the industry for more than 55 years in every region around the world sharing trusted technology media, events, and research through IDC and IDG Communications. IDC’s research, data, advisory services, and events leverage more than 1,100 analyst experts worldwide to provide global and local expertise on technology and industry trends in over 110 countries. Our analysis and insight support IT suppliers, IT buyers, business executives, and the investment community in making fact-based technology decisions that help them achieve their business objectives. IDG Communications is a trusted editorial voice, creating quality content to generate knowledge, engagement, and deep relationships with our community of the most influential technology and security decision-makers. Our premium media brands, including CIO®, Computerworld®, CSO®, InfoWorld®, Macworld®, Network World®, PCWorld®, and Tech Hive®, engage a quality audience with essential guidance on the evolving technology landscape. Our global brands, proprietary first-party data intelligence, and Triblio platform enable marketers to easily identify purchase intent and activate complex campaigns that drive business results. Additional information about IDG is available at https://www.IDGInc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211117005742/en/