Blackstone to acquire International Data Group
Blackstone have announced that private equity funds managed by 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 US$1.3 billion (eds. €1.11bn).
Founded in 1964, IDG provides market intelligence for the technology industry. Each year, IDG Asia traditionally hosts the Product Technology Innovation Award at IFA and CE China.
For more than five decades, the organisation 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.
Blackstone is one of the world’s leading investment firms. Their $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.
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 (pictured above). “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.
Photo – top of page –Mohamad Ali, CEO of IDG