Blackstone has agreed to acquire International Data Group Inc from Oriental Rainbow for $1.3 billion. Goldman Sachs was financial advisor to IDG on the deal. IDG is a provider of market intelligence for the tech industry.
BOSTON & NEW YORK–(BUSINESS WIRE)–Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have entered into a definitive agreement to acquire 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.
Founded in 1964, IDG provides market intelligence for the fast-growing technology industry. For more than five decades, it 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.
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.”
Vikram Suresh, Managing Director at Blackstone, said: “As technology ecosystems become increasingly competitive and complex to navigate, the need for deep market intelligence has become a requirement for established and disruptive technology companies alike. We look forward to partnering with the IDG management team to build on the success they have had in delivering these capabilities to the world’s largest technology companies.”
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.
“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,” added Mohamad Ali, CEO of IDG. “The IDG management team is also excited for the growth opportunity this acquisition creates as we deliver even greater value to our customers.”
“As owner of IDG over the past several years, we have seen IDG grow and evolve rapidly,” said Brett Bing Liu, President of Oriental Rainbow. “During that time, IDG has significantly expanded its coverage scope and continues to provide world- class solutions to its global customers. We are very happy to see the transition of IDG’s ownership to Blackstone. With Blackstone’s investment, IDG will be able to deliver its next-generation products even faster to customers.”
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.
Blackstone is one of the world’s leading investment firms. 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 $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. 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 1st 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.idg.com/about-idg-inc/.
About China Oceanwide
China Oceanwide is a privately held conglomerate founded by Lu Zhiqiang. Headquartered in Beijing, China, Oceanwide’s well-established and diversified businesses include operations in financial services and real estate assets globally.