China Oceanwide and IDG Capital have agreed to acquire IT media firm International Data Group, with IDG Capital to take on its corporate venturing interests.
US-based IT media and data firm International Data Group (IDG) agreed yesterday to an acquisition by conglomerate China Oceanwide and IDG Capital, its own China-based venture capital affiliate.
IDG Capital will take control of IDG’s corporate venturing business through the deal while China Oceanwide will be the controlling shareholder in the firm’s financial data analysis subsidiary IDC and IDG Communications, which oversees IDG’s media and events activities.
IDG was founded by Pat McGovern in 1964 and gradually built up a…
