Blackstone Acquires Tech Publisher IDG for $1.3 Billion (techcrunch.com) 3
Private equity giant Blackstone said on Thursday it has purchased media and data company IDG for $1.3 billion. IDG -- which runs consultancy firm IDC and a collection of tech publications including CIO, Computerworld, InfoWorld, Macworld, Network World, PCWorld, and Tech Hive -- was previously owned by Oriental Rainbow, LLC, a subsidiary of China Oceanwide Holdings Group. From a report: The media publishing arm was once a powerhouse in the 1990s tech publishing world, although its shine has faded in recent years as the publishing industry in general has come under intense pressure. The company has also been making some additions to the platform more recently with a stronger focus on data and analytics. Last year it bought Triblio, a marketing data platform to help companies deliver more personalized customer experiences. Last month it acquired Metri, an IT pricing service, which can help with IT budgeting and procurement. The latter could dovetail nicely with IDG's consulting services.
Bad Alternate Universe (Score:2)
Imagine if you will an alternate universe in which Blackstone purchased StackOverflow, instead of a holding company that will just leave it alone!
Lucky.
another one bites the dust (Score:1)
Moe, Larry and Curly [3 stooges]
and everything will be upside down and backwards.
Strangely appropriate... (Score:3)
...a private equity group sells ".... for Dummies" guides to the rest of us. :-)
I've heard the owner donates to charity. But then you get concerns like this:
Wikipedia [wikipedia.org]
In 2019, a United Nations report found that Blackstone's massive purchasing of single-family homes after the financial crisis of 2007–2008 had "devastating consequences."[156] The report alleged that Blackstone had abused tenants with exorbitant fees, rent hikes, and aggressive eviction practices, and that Blackstone's real estate practices had a disproportionate impact on communities of color, in part because the company targeted foreclosures resulting from subprime loans
Private equity is known for more 'aggressive' investing that publicly held companies would prefer.