Blackstone to Acquire International Data Group, a Leading Market Intelligence and Data Platform for the Technology Industry
June 03 2021 - 8:30AM
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.
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the full release here:
https://www.businesswire.com/news/home/20210603005559/en/
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.
About 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210603005559/en/
For Blackstone: Matt Anderson Matthew.Anderson@Blackstone.com
518-248-7310
For IDG, Inc. Lynn Holmlund Lynn_Holmlund@IDG.com
508-254-8336
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