International Data Group, which began life as a newsletter about the computer industry launched in 1964, has agreed to be sold to private equity firm Blackstone for an enterprise value of $1.3 billion.
The Needham, MA-based company, which produces hundreds of publications (CIO, Computerworld, Macworld, etc.), research studies, databases, events and conferences about the tech industry, was acquired from Oriental Rainbow LLC, a subsidiary of China Ocean Holdings Group, a Beijing, China-based investment company that acquired it in 2017.
“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,” Blackstone Managing Director Vikram Suresh said in a statement announcing the acquisition this morning.
In the period leading up to its sale, IDG made a number of significant acquisitions to expand its portfolio, including the 2020 purchase of Triblio and this year’s acquisition of Metri.