China Oceanwide Holdings Group Co., Ltd and IDG Capital Partners’ Acquisition of International Data Group, Inc.


Goldman, Sachs & Co. acted as financial advisor, and Foley Hoag LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal advisors to IDG. Citigroup acted as financial advisor, and Ropes & Gray LLP and Covington & Burling LLP acted as legal advisors to China Oceanwide. Davis Polk & Wardwell LLP acted as legal advisor to IDG Capital.

Foley Hoag LLP recently represented International Data Group, Inc. (“IDG”) and its operating subsidiaries International Data Corporation and IDG Communications, Inc. in connection with the acquisition, in two separate transactions, of IDG and of IDG’s extensive portfolio of venture capital holdings by a consortium of buyers led by China Oceanwide Holdings Group Co., Ltd and IDG Capital Partners. The transactions, which closed in January and March 2017, had previously received clearance from the Committee on Foreign Investment in the United States.

IDG is a Boston-based research, media and marketing services organization operating in 97 countries. IDC Research is a leading provider of market intelligence on the technology industry. IDG Communications’ media brands and publications include CIO, Computerworld, PCWorld and Macworld. IDG was founded in 1964 by Patrick J. McGovern and has been a client of Foley Hoag since 1985.

China Oceanwide is a privately held, multi-billion dollar international conglomerate headquartered in Beijing, China. Oceanwide’s diversified businesses include operations in financial services, real estate assets, media, technology and strategic investment, with more than 12,000 employees globally. IDG Capital is an independently operated investment management firm managing a broad portfolio of venture investments. IDG was one of the founding partners of IDG Capital.

Goldman, Sachs & Co. acted as financial advisor, and Foley Hoag LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal advisors to IDG. Citigroup acted as financial advisor, and Ropes & Gray LLP and Covington & Burling LLP acted as legal advisors to China Oceanwide. Davis Polk & Wardwell LLP acted as legal advisor to IDG Capital.

Foley Hoag attorneys Robert Sweet (Picture), Sandy Gadsby, Mark Haddad, Bruce Kinn, Meredith Haviland, Nicola Lemay, Joseph Basile, William Kolb, Teresa Martland, Adrienne Ellman, Gabrielle Bernstein, Jennifer Macarchuk, Lauren Tran, Abigail Wolf, Craig Randall, Rosina Mummolo, Jennifer Lichtman, Michael Rosen and Natasha Reed represented IDG in the transaction.

Involved fees earner: Robert Sweet – Foley Hoag; Edward Gadsby Jr. – Foley Hoag; Mark Haddad – Foley Hoag; Bruce Kinn – Foley Hoag; Meredith Haviland – Foley Hoag; Joseph Basile – Foley Hoag; William Kolb – Foley Hoag; Adrienne Ellman – Foley Hoag; Gabrielle Bernstein – Foley Hoag; Jennifer Macarchuk – Foley Hoag; Lauren Tran – Foley Hoag; Craig Randall – Foley Hoag; Rosina Mummolo – Foley Hoag; Jennifer Lichtman – Foley Hoag; Nicola Lemay – Foley Hoag; Abigail Wolf – Foley Hoag; Teresa Martland – Foley Hoag; Michael Rosen – Foley Hoag; Natasha Reed – Foley Hoag;

Law Firms: Foley Hoag;

Clients: International Data Group, Inc.;

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Author: Ambrogio Visconti