US-based IT media and data firm International Data Group (IDG) has been acquired by diversified conglomerate China Oceanwide and IDG Capital, the corporate’s own China-based VC affiliate.
The deal, first announced in January 2017, means IDG Capital now holds a 10% stake of IDG and has taken control of IDG Ventures, the group’s corporate venturing division.
IDG Capital was launched in 1993 as a US-based, China-focused venture capital firm backed by IDG before moving its headquarters into the People’s…