IDG Capital has teamed up with China Oceanwide Holdings Group Co., Ltd. to acquire International Data Group, Inc (IDG), the Chinese venture firm's first limited partner and parent before its spin-out in 1999.
The acquisition, which includes International Data Corporation, IDG Communications and IDG Ventures, has received clearance from the Committee on Foreign Investment in the United States (CFIUS) and is expected to close within the first quarter of 2017.
Upon closure of the transaction, China Oceanwide will become the controlling shareholder of IDG’s operating businesses, including IDC and IDG Communications, while IDG Capital will become the controlling shareholder of the IDG venture business.
The financial terms of the deal were not disclos...
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