Blackstone have announced that private equity funds managed by Blackstone have entered into a definitive agreement to acquire International Data Group, Inc. (“IDG”) from Oriental Rainbow, LLC.
Oriental Rainbow, LLC, is a subsidiary of China Oceanwide Holdings Group, Co. Ltd. for an enterprise value of US$1.3 billion (eds. €1.11bn).
About International Data Group (IDG)
Founded in 1964, IDG provides market intelligence for the technology industry. Each year, IDG Asia traditionally hosts the Product Technology Innovation Award at IFA and CE China. For more than five decades, the organization has delivered proprietary insights and data for technology suppliers and buyers on every major shift in the technology market – from the invention of the personal computer and launch of the iPhone to the emergence of cloud computing and artificial intelligence. This new ownership will allow IDG to invest significantly in additional opportunities for ongoing growth across its technology and product portfolio, including strategic acquisitions to extend its market leadership position. IDG, Inc. and its subsidiaries have made multiple recent acquisitions to further increase its capabilities for its customers. In 2020, it purchased Triblio to expand its software-as-a-service platform and bolster its ability to support robust marketing activation programs. Last month, it acquired Metri to increase its rich IT pricing dataset, adding IT budget and operations benchmarking and sourcing services.
Blackstone is one of the world’s leading investment firms. Their $649 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.
Expectations of this takeover
Peter Wallace, Global Head of Core Private Equity at Blackstone, said: “The high-quality data, analytics, and insights IDG delivers to technology leaders are only becoming more critical as the pace of growth and innovation accelerates. IDG has a trusted brand and deep knowledge of tech suppliers and buyers, and our investment will help the company accelerate its plans for creating even more advanced product offerings across its business.”
Mohamad Ali, CEO of IDG added: “Additional capital investment from Blackstone will allow us to cultivate our rich history of innovation and accelerate our product roadmaps to bring our customers the deeper insights and data they need to succeed in today’s rapidly evolving digital economy,”
Goldman Sachs & Co. LLC acted as exclusive financial advisor to IDG. King & Wood Mallesons acted as lead legal advisor and Mintz acted as co-legal advisor to IDG. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone.