A Chinese company has completed its acquisition of IDG, the parent of PC World and other tech publications.
Grant Gross of PC World writes, “The sale of tech publishing pioneer International Data Group to China Oceanwide Holdings Group and China-based IDG Capital is final.
“The deal for China Oceanwide Holdings Group to acquire a majority stake in International Data Group was first announced in January. Tech analyst firm IDC and venture capital firm IDG Ventures are included in the deal.
“China Oceanwide hosted an event in Bejing Wednesday to announce the closing of the deal. The companies did not disclose the terms of the sale.
“China Oceanwide has said it will focus on growth at IDG and IDC.
“IDG publishes PCWorld, Computerworld, CIO, CSO Macworld, InfoWorld, CSO, Network World, IDG.tv, and hundreds of other publications worldwide. IDG, which operates in 97 countries, is also the parent company of the IDG News Service.
“IDG was founded in 1964 by Patrick McGovern, who died in March 2014. Since then, the company has been run by a board of directors, which has been seeking a buyer for about a year.”
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