Tech Publisher IDG Sold to Blackstone for $1.3 Billion

Tech publisher IDG is being sold by investment firm China Oceanwide Holdings to a private equity investor Blackstone for $1.3 billion. IDG owns tech analyst firm IDC plus publications including CIO, Computerworld, and Tech Hive. It’s a fire-sale price: not much more than China Oceanwide reportedly paid for IDG in 2017 and fraction of IDG’s revenues, which are I’d guess are between $3 billion and $5 billion.