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November 15, 2016 06:00 pm

IDG, Owner of PCWorld and Research Firm IDC, in Advanced Talks To Sell Itself To Chinese Buyout Group: Reuters

International Data Group, a pioneer in technology publishing and owner of such venerable names as PCWorld and the market research firm IDC, is in talks to sell itself for more than $1 billion to a Chinese investor group headed by IDG of Greater China chairman Hugo Shong, reports Reuters. From the report:The identity of the other investors in the group and the exact size of the deal could not be learned. The privately held company had been seeking a valuation of $500 million to $1 billion, according to the people, who did not want to be named because the matter is private. While the parties are in advanced discussions, no deal is finalized and talks could fall apart at any time, the people cautioned. IDG, based in Framingham, Massachusetts, declined to comment. Shong could not immediately be reached for comment. Founded in 1964, IDG has grown to be one of the largest global trade publishers, with hundreds of tech-focused websites and magazines. Its charismatic founder and longtime CEO, Pat McGovern, died two years ago.

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