Götterdämmerung
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They mixed up Germany with Sweden. LOL
Hasselblad is definitely Swedish.
Hasselblad is definitely Swedish.
China Global M&A Push, 2005 ~ Nowadays
- Thread starter cirr
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AndrewJin
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Any jobs in Germany?
Götterdämmerung
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I don't know.
AndrewJin
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It must be related to Germany, otherwise won't be mentioned.
Götterdämmerung
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No, Hasselblad is a pure Swedish company. Maybe the are mixing up another high-end camera company from Germany, Zeiss.
shadows888
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just lazy journalism, very common now a days. it's all about # of articles and how many views they can get.
tranquilium
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The writer probably made a mistake. Techcrunch's article on the same topic says it is a swedish company.
https://techcrunch.com/2017/01/05/dji-acquires-hasselblad-the-iconic-swedish-camera-company/
cirr
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Hasselbald is one of the best camera firms/brands there is. On par with Germany's Leica.
Hasselblad is now Owned by DJI
By admin, on January 8th, 2017
http://thenewcamera.com/hasselblad-is-now-owned-by-dji/
I was holding this news back for final confirmations, but today I have decided to publish it.
Yes, it’s true that a drone maker company from China now owns a majority share inย Hasselblad. Yes, we are talking to same Swedish company Hasselblad which was best known for the medium-format cameras it produced since World War II.
You may also know that but Hasselblad was the first camera to land on moon and almost all the still photographs taken during these missions used customized Hasselblad cameras.
But the major fallback started when Hasselblad started re-branding Sony cameras and Lunar was the live example.
On July of 2016 Hasselblad teamed up with DJI for Arieal Photography package and announced A5D camera paired with DJI M600 to capture never before aerial shots.
On June 2016 Hasselblad Announced ย a light-weight and compact Medium format mirrorless camera Hasselblad X1D – World First Mirrorless Camera with 50 MP Medium Format Sensor.
The According to Hasselblad UK Manager they received 30,000 worldwide pre-orders expecting only 3,000. So, the X1D camera was playing a major role for the comeback of Hasselblad.
DJI is a aggressive company and we hope and expect new era of Medium Format camera as well as small Medium Format Drones in near future.
http://thenewcamera.com/hasselblad-is-now-owned-by-dji/
Congratulations to DJI and Hasselblad.
Hasselblad is now Owned by DJI
By admin, on January 8th, 2017
http://thenewcamera.com/hasselblad-is-now-owned-by-dji/
I was holding this news back for final confirmations, but today I have decided to publish it.
Yes, it’s true that a drone maker company from China now owns a majority share inย Hasselblad. Yes, we are talking to same Swedish company Hasselblad which was best known for the medium-format cameras it produced since World War II.
You may also know that but Hasselblad was the first camera to land on moon and almost all the still photographs taken during these missions used customized Hasselblad cameras.
But the major fallback started when Hasselblad started re-branding Sony cameras and Lunar was the live example.
On July of 2016 Hasselblad teamed up with DJI for Arieal Photography package and announced A5D camera paired with DJI M600 to capture never before aerial shots.
On June 2016 Hasselblad Announced ย a light-weight and compact Medium format mirrorless camera Hasselblad X1D – World First Mirrorless Camera with 50 MP Medium Format Sensor.
The According to Hasselblad UK Manager they received 30,000 worldwide pre-orders expecting only 3,000. So, the X1D camera was playing a major role for the comeback of Hasselblad.
DJI is a aggressive company and we hope and expect new era of Medium Format camera as well as small Medium Format Drones in near future.
http://thenewcamera.com/hasselblad-is-now-owned-by-dji/
Congratulations to DJI and Hasselblad.
Shotgunner51
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China Outbound M&A Doubles In 2016 To Reach Record $225B
Li Dongmei January 10, 2017 — 12:34 HKT
China outbound mergers and acquisition deal value reached an all-time high of US$225.4 billion in 2016, more than double the previous record of US$102 billion announced in 2015, according to newest data released by Dealogic today.
Europe was the top targeted region for Chinese acquirers in 2016 with US$99.9 billion worth of deals announced, triple the amount in 2015 of US$33.2 billion and the highest annual value on record.
The total value figure was boosted by China National Chemical Corp's US$46.9 billion offer for Swiss agribusiness Syngenta AG, the largest China cross-border deal on record and the biggest Switzerland targeted M&A deal on record.
North America was the second most popular region for Chinese acquirers last year with US$68.8 billion in announced deal value, again the highest total on record. North American deals focused on media and hospitality companies, such as Dalian Wanda's acquisition of Legendary Entertainment for US$3.5 billion, and Anbang Insurance's $6.5 billion purchase of Strategic Hotels And Resorts.
Read the full article at https://www.chinamoneynetwork.com/2017/01/10/china-outbound-ma-doubles-in-2016-to-reach-record-225b
Shotgunner51
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China extends penetration of Greek market
09 Jan 2017
COSCO Priaeus
Chinese enterprises are showing an increased interest in Greece, as not only does the country offer them an entry gate to the eurozone and the rest of Europe, but it’s also a relatively new market for them.
Just weeks after the signing of a cooperation agreement between Public Power Corporation and China Machinery Engineering Corporation (CMEC) on the development of joint infrastructure projects, and days after the acquisition of 24 percent in the Independent Power Transmission Operator (ADMIE) by China’s State Grid Corp, the head of China Shenhua Group arrived in Athens with his staff.
He is not alone. After investments in infrastructure (through COSCO in Piraeus) and energy, Chinese enterprises are now eyeing the sectors of food, services, tourism (and its infrastructure), scientific innovation, culture, property market and healthcare. The next few weeks will see the arrival of Chinese business missions to Greece to that end, after the completion of preparatory work for that purpose, with China also to be the country of honor at the 2017 Thessaloniki International Fair.
Source: EKathimerini / By Ilias Bellos
http://www.shippingherald.com/china-extends-penetration-of-greek-market/
09 Jan 2017
COSCO Priaeus
Chinese enterprises are showing an increased interest in Greece, as not only does the country offer them an entry gate to the eurozone and the rest of Europe, but it’s also a relatively new market for them.
Just weeks after the signing of a cooperation agreement between Public Power Corporation and China Machinery Engineering Corporation (CMEC) on the development of joint infrastructure projects, and days after the acquisition of 24 percent in the Independent Power Transmission Operator (ADMIE) by China’s State Grid Corp, the head of China Shenhua Group arrived in Athens with his staff.
The chief of one of the world’s biggest corporations in coal and energy trading (China Shenhua Group) “expressed his will to understand in depth the Greek energy market and promote cooperation with Greek enterprises, such as on lignite-powered electricity units,” Kathimerini has been told.
He is not alone. After investments in infrastructure (through COSCO in Piraeus) and energy, Chinese enterprises are now eyeing the sectors of food, services, tourism (and its infrastructure), scientific innovation, culture, property market and healthcare. The next few weeks will see the arrival of Chinese business missions to Greece to that end, after the completion of preparatory work for that purpose, with China also to be the country of honor at the 2017 Thessaloniki International Fair.
Source: EKathimerini / By Ilias Bellos
http://www.shippingherald.com/china-extends-penetration-of-greek-market/
Shotgunner51
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China's Kuang-Chi is snapping up a stake in a British company - Gilo Industries Group - a Dorset-based manufacturer of rotary engines for unmanned aeronautical vehicles and jet-backpacks. Check this
http://news.sky.com/story/chinese-investor-buys-stake-in-british-aviation-pioneer-gilo-10729950
Background of Kuang-Chi (光启)
http://www.kuang-chi.com/en/index.php?ac=article&at=list&tid=235
Founded in 2010 and headquartered in Shenzhen, China, Kuang-Chi is a global innovation group focused on the future. Originating as a five-person team, the company has expanded to a Global Community of Innovation (GCI) of more than 2,600 employees. Involved in industries including aerospace, smart cities, equipment with artificial intelligence, as well as new wireless communication technology, among others, Kuang-Chi has become a world leader in developing and promoting a series of products that help society advance into the future. With the GCI initiative, Kuang-Chi has created a network of the future, featuring a number of partners specialized in invention and innovation.
Last edited:
Bussard Ramjet
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I am actually very disappointed in Kuang Chi. I thought it to be a very very high tech firm in the beginning, with their focus on metamaterials etc. But suddenly they have become more of a run of mill holding firm with numerous investments.
I would have liked had they been a truly exceptional research and tech firm.
Shotgunner51
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China's Sunpower To Acquire Valeant's US Biopharma Unit Dendreon For $819M
Li Dongmei January 11, 2017 — 12:07 HKT
Chinese companies remain active buyers of overseas healthcare related assets. Privately owned conglomerate Sanpower Group has agreed to acquire Valeant's biopharma unit Dendreon for US$819.9 million, as Valeant aims to offload its non-core assets, the companies announced.
Earlier today, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Santa Monica, California-based Kite Pharma announced they will establish a joint venture to develop and commercialize cancer treatment in China.
Dendreon's first and only commercialized product is Provenge, an autologous cellular immunotherapy for prostate cancer treatment approved by the U.S. Food and Drug Administration in April 2010.
The number of prostate cancer case has increased by ten times in the past 20 years in China, according to surveys cited by the companies in a statement.
"We aim to introduce one of the most advanced medical technologies and treatments to China and also other major Asian markets, and make Sanpower Group China's leading enterprise in cellular immunotherapy," said Yuan Yafei, chairman of Sanpower Group.
With this sale, Valeant will exit one of its non-core therapeutic areas oncology in order to focus on its core businesses.
After the completion of the acquisition, Sanpower Group plans to accelerate Provenge sales penetration into the U.S. and also align its own resources to introduce Provenge to China and other major markets in Asia.
Established in 1993, Nanjing-headquartered Sanpower Group was founded by former government official Yuan Yafei and started as an IT retail franchise. The company now owns numerous A-share listed companies, and operates primarily in the healthcare, information services, commerce, financial services, and real estate sectors.
The conglomerate has aggressively expanded in the healthcare sector in recent years, having acquired Chinese senior care service provider AnKangTong, Israeli at-home senior care company Natali, and travel nursing company A.S. Nursing.
In 2016, the group announced the acquisition of China Cord Blood Corporation and Shandong Cord Blood Bank, becoming the world's largest cord blood banking operator. The group also owns many medical and health institutions.
The big data from its cord blood bank provides the foundation for precise medical care. The acquisition of Provenge will allowed the group to expand its umbilical cord blood bank to practical application.
https://www.chinamoneynetwork.com/2...-valeants-us-biopharma-unit-dendreon-for-819m
China's Sanpower takes on expensive Provenge manufacturing with Dendreon deal
by Eric Palmer Jan 17, 2017 8:45am
The bankruptcy of Dendreon in 2014 stemmed in large part from the costs of the very complex manufacturing processes required to produce and deliver its personalized immune stimulator drug Provenge for prostate cancer. Now it is Sanpower Group, a Chinese conglomerate with businesses that range from electronics to novelty retailer Brookstone, that will take ownership of Dendreon and its two U.S. manufacturing facilities and that process.
Biologics plants in Union City, GA, and Seal Beach, CA are part of the what Sanpower gets with its $820 million buyout of Dendreon from Valeant Pharmaceuticals that it announced last week. Valeant had acquired Dendreon out of bankruptcy in 2015 for $400 million as part of an acquisition spree but having run into its own financial difficulties, Valeant decided to sell it to pay down debt.
Of course Sanpower also gets Provenge. In announcing the deal last week, the Chinese company said that “After the completion of the acquisition, Sanpower Group plans to accelerate Provenge sales penetration in the United States and also align its own resources to introduce Provenge to China and other major markets in Asia.” Rates of prostate cancer have grown significantly in China in the last two decades the company pointed out.
Healthcare is one of the five areas on which Sanpower has focused its attention with assets in home care, genetic testing and precision medicine, among others. Sanpower says that it is the world's largest operator of cord blood banking.
“The acquisition of Provenge is an important step in the area of precision medical treatment for Sanpower Group. The big data from its cord blood bank provides the foundation for precise medical care. The acquisition of Provenge has allowed the group to expand its umbilical cord blood bank from the basics to its practical application, and has taken a strategic step in further laying out precise medical care” the company said in its announcement.
When Provenge was first approved in 2010, Dendreon had three plants but after a few years of weak Provenge sales, sold one in New Jersey to Novartis in 2012 for $43 million. The two plants it still has are a 180,000-square-foot facility in Seal Beach near Los Angeles, and a 160,000-square-foot operation in Union City near Atlanta.
The company has said its facilities were strategically located because Provenge is made with live cells and needed a turnaround time of three days between when white blood cells were drawn, sent to one of the plants to identify the specific immune cells for use and processing and returned and infused into an appropriate patient with castration-resistant prostate cancer. The process, which cost patients or payers $93,000, had to be done three times and the logistics of that were tracked by a team in Seattle.
It is an expensive process. At one point, Dendreon's costs of sales were 77%. After further automating in 2013, it cut that to 53%; that compares with about 10% for most biotechs. It was trying to reduce it further when it filed for bankruptcy. At the time, Suisse analyst Lee Kalowski said he doubted any company that took on Provenge could make any any more cheaply.
It is now Sanpower’s turn to see what it can achieve. While it didn’t lay out specific plans last week, a Sanpower spokesperson did say in an email that, “In regard to the manufacturing scale, we have no intention to change it for the time being.”
http://www.fiercepharma.com/manufac...xpensive-provenge-manufacturing-dendreon-deal
Li Dongmei January 11, 2017 — 12:07 HKT
Chinese companies remain active buyers of overseas healthcare related assets. Privately owned conglomerate Sanpower Group has agreed to acquire Valeant's biopharma unit Dendreon for US$819.9 million, as Valeant aims to offload its non-core assets, the companies announced.
Earlier today, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Santa Monica, California-based Kite Pharma announced they will establish a joint venture to develop and commercialize cancer treatment in China.
Dendreon's first and only commercialized product is Provenge, an autologous cellular immunotherapy for prostate cancer treatment approved by the U.S. Food and Drug Administration in April 2010.
The number of prostate cancer case has increased by ten times in the past 20 years in China, according to surveys cited by the companies in a statement.
"We aim to introduce one of the most advanced medical technologies and treatments to China and also other major Asian markets, and make Sanpower Group China's leading enterprise in cellular immunotherapy," said Yuan Yafei, chairman of Sanpower Group.
With this sale, Valeant will exit one of its non-core therapeutic areas oncology in order to focus on its core businesses.
After the completion of the acquisition, Sanpower Group plans to accelerate Provenge sales penetration into the U.S. and also align its own resources to introduce Provenge to China and other major markets in Asia.
Established in 1993, Nanjing-headquartered Sanpower Group was founded by former government official Yuan Yafei and started as an IT retail franchise. The company now owns numerous A-share listed companies, and operates primarily in the healthcare, information services, commerce, financial services, and real estate sectors.
The conglomerate has aggressively expanded in the healthcare sector in recent years, having acquired Chinese senior care service provider AnKangTong, Israeli at-home senior care company Natali, and travel nursing company A.S. Nursing.
In 2016, the group announced the acquisition of China Cord Blood Corporation and Shandong Cord Blood Bank, becoming the world's largest cord blood banking operator. The group also owns many medical and health institutions.
The big data from its cord blood bank provides the foundation for precise medical care. The acquisition of Provenge will allowed the group to expand its umbilical cord blood bank to practical application.
https://www.chinamoneynetwork.com/2...-valeants-us-biopharma-unit-dendreon-for-819m
China's Sanpower takes on expensive Provenge manufacturing with Dendreon deal
by Eric Palmer Jan 17, 2017 8:45am
The bankruptcy of Dendreon in 2014 stemmed in large part from the costs of the very complex manufacturing processes required to produce and deliver its personalized immune stimulator drug Provenge for prostate cancer. Now it is Sanpower Group, a Chinese conglomerate with businesses that range from electronics to novelty retailer Brookstone, that will take ownership of Dendreon and its two U.S. manufacturing facilities and that process.
Biologics plants in Union City, GA, and Seal Beach, CA are part of the what Sanpower gets with its $820 million buyout of Dendreon from Valeant Pharmaceuticals that it announced last week. Valeant had acquired Dendreon out of bankruptcy in 2015 for $400 million as part of an acquisition spree but having run into its own financial difficulties, Valeant decided to sell it to pay down debt.
Of course Sanpower also gets Provenge. In announcing the deal last week, the Chinese company said that “After the completion of the acquisition, Sanpower Group plans to accelerate Provenge sales penetration in the United States and also align its own resources to introduce Provenge to China and other major markets in Asia.” Rates of prostate cancer have grown significantly in China in the last two decades the company pointed out.
Healthcare is one of the five areas on which Sanpower has focused its attention with assets in home care, genetic testing and precision medicine, among others. Sanpower says that it is the world's largest operator of cord blood banking.
“The acquisition of Provenge is an important step in the area of precision medical treatment for Sanpower Group. The big data from its cord blood bank provides the foundation for precise medical care. The acquisition of Provenge has allowed the group to expand its umbilical cord blood bank from the basics to its practical application, and has taken a strategic step in further laying out precise medical care” the company said in its announcement.
When Provenge was first approved in 2010, Dendreon had three plants but after a few years of weak Provenge sales, sold one in New Jersey to Novartis in 2012 for $43 million. The two plants it still has are a 180,000-square-foot facility in Seal Beach near Los Angeles, and a 160,000-square-foot operation in Union City near Atlanta.
The company has said its facilities were strategically located because Provenge is made with live cells and needed a turnaround time of three days between when white blood cells were drawn, sent to one of the plants to identify the specific immune cells for use and processing and returned and infused into an appropriate patient with castration-resistant prostate cancer. The process, which cost patients or payers $93,000, had to be done three times and the logistics of that were tracked by a team in Seattle.
It is an expensive process. At one point, Dendreon's costs of sales were 77%. After further automating in 2013, it cut that to 53%; that compares with about 10% for most biotechs. It was trying to reduce it further when it filed for bankruptcy. At the time, Suisse analyst Lee Kalowski said he doubted any company that took on Provenge could make any any more cheaply.
It is now Sanpower’s turn to see what it can achieve. While it didn’t lay out specific plans last week, a Sanpower spokesperson did say in an email that, “In regard to the manufacturing scale, we have no intention to change it for the time being.”
http://www.fiercepharma.com/manufac...xpensive-provenge-manufacturing-dendreon-deal
ahojunk
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Outbound non-financial direct investments up 44%
2017-01-17 09:27 | China Daily | Editor: Feng Shuang
China's total outbound direct investment from the non-financial sector jumped 44.1 percent to $170.11 billion in 2016 compared with the previous year, according to data released by the Ministry of Commerce on Monday.
Outbound direct investment made by Chinese companies in countries and regions along the Belt and Road Initiative amounted to $14.53 billion last year. Chinese companies from sectors such as infrastructure and power signed $126.03 billion of new project contracts in the two trading routes in the meantime, accounting for 51.6 percent of the country's total in global markets.
An official from of the ministry's department of outward investment and economic cooperation said that as the country was undergoing an industrial upgrading boom, the investment categories of Chinese companies have been further expanded in overseas markets, according to the ministry's website.
With a total of $107.2 billion, companies conducted 742 mergers and acquisitions in 18 industries in 73 countries and regions last year.
Li Gang, vice-president of the Chinese Academy of International Trade and Economic Cooperation in Beijing, said the robust growth of China's outbound direct investment would not change because current economic developments demand that domestic companies use resources in global markets.
"A slow world economic recovery is driving many economies to seek foreign investment to boost growth and employment," Li said.
"The government should also tighten its supervision on illegal investment activities to avoid risks."
Professor Zhao Zheng, at the University of International Business and Economics, said current trends will remain on the current course.
"Regarding the development trend, the steady and fast growth in China's outward investment will not change in the long run," Zhao said.
2017-01-17 09:27 | China Daily | Editor: Feng Shuang
China's total outbound direct investment from the non-financial sector jumped 44.1 percent to $170.11 billion in 2016 compared with the previous year, according to data released by the Ministry of Commerce on Monday.
Outbound direct investment made by Chinese companies in countries and regions along the Belt and Road Initiative amounted to $14.53 billion last year. Chinese companies from sectors such as infrastructure and power signed $126.03 billion of new project contracts in the two trading routes in the meantime, accounting for 51.6 percent of the country's total in global markets.
An official from of the ministry's department of outward investment and economic cooperation said that as the country was undergoing an industrial upgrading boom, the investment categories of Chinese companies have been further expanded in overseas markets, according to the ministry's website.
With a total of $107.2 billion, companies conducted 742 mergers and acquisitions in 18 industries in 73 countries and regions last year.
Li Gang, vice-president of the Chinese Academy of International Trade and Economic Cooperation in Beijing, said the robust growth of China's outbound direct investment would not change because current economic developments demand that domestic companies use resources in global markets.
"A slow world economic recovery is driving many economies to seek foreign investment to boost growth and employment," Li said.
"The government should also tighten its supervision on illegal investment activities to avoid risks."
Professor Zhao Zheng, at the University of International Business and Economics, said current trends will remain on the current course.
"Regarding the development trend, the steady and fast growth in China's outward investment will not change in the long run," Zhao said.
Shotgunner51
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China Oceanwide and IDG Capital Announce Agreement to Acquire International Data Group
January 19, 2017 08:00 AM Eastern Standard Time
BOSTON & BEIJING--(BUSINESS WIRE) -- China Oceanwide Holdings Group Co., Ltd. ("China Oceanwide") and IDG Capital announced that they have entered into a definitive agreement to acquire International Data Group, Inc. (“IDG”), including its subsidiaries International Data Corporation (“IDC”), IDG Communications, and IDG Ventures, and that they have received clearance from the Committee on Foreign Investment in the United States (“CFIUS”) for the transaction. 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 terms of the deal were not disclosed. The transaction is expected to close within the first quarter of 2017.
IDG is the leading global media, market research and venture company that engages the most influential technology vendors and buyers. IDG operates in 97 countries around the world.
China Oceanwide is a privately held, multi-billion dollar international conglomerate founded by Chairman Zhiqiang Lu. Headquartered in Beijing, China Oceanwide's well-established and 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 partnership, with IDG as one of many limited partners. Formed in 1993 as China’s first technology venture investment firm, IDG Capital was ranked China’s top VC firm for 2016 by Zero2IPO Group.
IDG will continue to be headquartered in Boston, Massachusetts and managed by its current team. Kirk Campbell will continue as President and CEO of IDC, and Michael Friedenberg will continue as CEO of IDG Communications. A new board of directors will be appointed after the close of the transaction.
IDG's founder and leader, Patrick J. McGovern, passed away March 2014. His legacy and philanthropic vision will continue with the McGovern Foundation, a new foundation that will be funded by the proceeds from this transaction. This foundation will support neuroscience and IT for the benefit of humanity.
In 2000, Patrick J. McGovern and Lore Harp McGovern donated US$350 million to MIT to set up the McGovern Institute for Brain Research, with a long-term mission to understand the human brain in health and disease. In 2011, Patrick J. McGovern and Lore Harp McGovern also reached agreement with Peking University, Tsinghua University and Beijing Normal University, donating US$10 million to each university to set up IDG/McGovern Institute for Brain Research in China.
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.
About International Data Group, Inc.
International Data Group, Inc., founded in 1964, is the leading media, market research and venture company that engages the most influential technology vendors and buyers. The company is headquartered in Boston, Massachusetts, USA.
In 1980, IDG became the first U.S. publisher to enter the China market, with the launch of China Computerworld, a China-U.S. joint venture. Today IDG China has more than 60 joint-venture magazines, newspapers and web sites for the computer, electronics, telecommunications, fashion and consumer industries.
About IDG Communications
IDG Communications is the world’s largest media, data, and marketing services company whose mission is to help our global audience make the smartest technology purchasing decisions. Our premium brands, including CIO®, Computerworld®, PCWorld® and Macworld®, engage the most powerful audience of technology buyers providing essential guidance on the evolving technology landscape. Our global data intelligence platform activates purchasing intent, powering our clients’ success. IDG Marketing Services creates custom content with marketing impact across video, mobile, social and digital. We execute complex campaigns that fulfill marketers’ global ambitions seamlessly with consistency that delivers results and wins awards. Visit IDG.com for more information. IDG is the #1 tech media company in the world, per comScore.*
*Source: comScore Media Metrix, Desktop Unique Visitors, Worldwide, February 2016
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. To learn more about IDC, please visit www.idc.com.
About China Oceanwide
China Oceanwide is a privately held multi-billion dollar international conglomerate founded by Chairman Zhiqiang Lu. Headquartered in Beijing, China, China Oceanwide's well-established and diversified businesses include operations in financial services, real estate assets, media, technology and strategic investment, with more than 12,000 employees globally.
China Oceanwide is the controlling shareholder of the Shenzhen-listed Oceanwide Holdings Co., Ltd. and Minsheng Holdings Co. Ltd.; the Hong Kong-listed China Oceanwide Holdings Limited; the privately-held Minsheng Securities, Minsheng Trust, and Asia-Pacific Property & Casualty Insurance; and it is the single largest shareholder of Australia-listed CuDECO Ltd. China Oceanwide also is a significant investor in Shanghai-listed China Minsheng Bank. In the United States, China Oceanwide has real estate investments in New York, San Francisco, Los Angeles, and Hawaii.
About IDG Capital
Founded in 1993, IDG Capital, a pioneer US venture capital firm entering into China, is now the leading venture capital firm in China, with offices in Hong Kong, Beijing, Shanghai, Guangdong, Shenzhen, Hangzhou, Silicon Valley and Boston. IDG Capital invests in a wide range of industry sectors, including the Internet, wireless communications, consumer products, franchise services, new media, entertainment, education, healthcare and advanced manufacturing. Since its establishment, IDG Capital has invested in more than 500 outstanding companies in China. The company has also successfully exited from over 120 investments by mergers and acquisitions or by IPOs in the U.S., Hong Kong and China, including companies such as Baidu, Tencent, Sohu, Ctrip, SouFun, Qihoo 360, Xiaomi, Meitu, Creditease, HomeInns, Huazhu Hotels Group, and more. In 2005, IDG Capital partnered with Accel Partners to launch a series of IDG Accel China Growth and Capital funds. IDG Capital launched IDG Venture Fund IV in 2014 and IDG Capital Fund III in 2016, respectively, in partnership with Breyer Capital.
http://www.businesswire.com/news/ho...anwide-IDG-Capital-Announce-Agreement-Acquire
January 19, 2017 08:00 AM Eastern Standard Time
IDG is the leading global media, market research and venture company that engages the most influential technology vendors and buyers. IDG operates in 97 countries around the world.
China Oceanwide is a privately held, multi-billion dollar international conglomerate founded by Chairman Zhiqiang Lu. Headquartered in Beijing, China Oceanwide's well-established and 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 partnership, with IDG as one of many limited partners. Formed in 1993 as China’s first technology venture investment firm, IDG Capital was ranked China’s top VC firm for 2016 by Zero2IPO Group.
IDG will continue to be headquartered in Boston, Massachusetts and managed by its current team. Kirk Campbell will continue as President and CEO of IDC, and Michael Friedenberg will continue as CEO of IDG Communications. A new board of directors will be appointed after the close of the transaction.
“In an effort to carry on the legacy of late founder and chairman Pat McGovern, we have been focused on determining the optimal future balance between what’s best for IDG and Pat’s mission for the McGovern Foundation,” said Walter Boyd, Chairman of IDG. “We believe China Oceanwide and IDG Capital will provide the right financial, strategic and cultural fit to take IDG to greater heights.”
“Pat made 130 trips to China over his career, and together with longstanding IDG executive Hugo Shong they established IDG’s media, market research and venture capital businesses in China,” continued Boyd. “We are happy to announce, and I believe Pat would be delighted to know, that China Oceanwide and IDG Capital are willing partners who will continue to invest in IDG’s business and drive growth across all three of IDG’s diverse and valuable assets – IDC, IDG Communications and the IDG Ventures portfolios.”
“IDG is a natural extension for China Oceanwide’s international portfolio expansion,” said Chairman Zhiqiang Lu of China Oceanwide. “As a world leader in market research and insights, a publisher of many of the tech industry’s most established media brands, and a successful venture investor, IDG’s strong global brand and profile make for an attractive strategic investment for us. We plan to support IDG’s current management team as they implement their business plans, providing them with the autonomy, financial support and commercial resources that can support IDG’s growth and expansion and further enhance its leading position in the market.”
"Pat was not only a great boss, but also a mentor to me for over 22 years," said Hugo Shong, Founding General Partner of IDG Capital. "IDG’s culture is at the core of its success, and its strength has always been rooted in the talent and dedication of its people. Our focus going forward will be on investing in the company and its people for growth over the long term, as we carry the flag for Pat’s legacy for many years to come.”
IDG's founder and leader, Patrick J. McGovern, passed away March 2014. His legacy and philanthropic vision will continue with the McGovern Foundation, a new foundation that will be funded by the proceeds from this transaction. This foundation will support neuroscience and IT for the benefit of humanity.
In 2000, Patrick J. McGovern and Lore Harp McGovern donated US$350 million to MIT to set up the McGovern Institute for Brain Research, with a long-term mission to understand the human brain in health and disease. In 2011, Patrick J. McGovern and Lore Harp McGovern also reached agreement with Peking University, Tsinghua University and Beijing Normal University, donating US$10 million to each university to set up IDG/McGovern Institute for Brain Research in China.
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.
About International Data Group, Inc.
International Data Group, Inc., founded in 1964, is the leading media, market research and venture company that engages the most influential technology vendors and buyers. The company is headquartered in Boston, Massachusetts, USA.
In 1980, IDG became the first U.S. publisher to enter the China market, with the launch of China Computerworld, a China-U.S. joint venture. Today IDG China has more than 60 joint-venture magazines, newspapers and web sites for the computer, electronics, telecommunications, fashion and consumer industries.
About IDG Communications
IDG Communications is the world’s largest media, data, and marketing services company whose mission is to help our global audience make the smartest technology purchasing decisions. Our premium brands, including CIO®, Computerworld®, PCWorld® and Macworld®, engage the most powerful audience of technology buyers providing essential guidance on the evolving technology landscape. Our global data intelligence platform activates purchasing intent, powering our clients’ success. IDG Marketing Services creates custom content with marketing impact across video, mobile, social and digital. We execute complex campaigns that fulfill marketers’ global ambitions seamlessly with consistency that delivers results and wins awards. Visit IDG.com for more information. IDG is the #1 tech media company in the world, per comScore.*
*Source: comScore Media Metrix, Desktop Unique Visitors, Worldwide, February 2016
About IDC
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. To learn more about IDC, please visit www.idc.com.
About China Oceanwide
China Oceanwide is a privately held multi-billion dollar international conglomerate founded by Chairman Zhiqiang Lu. Headquartered in Beijing, China, China Oceanwide's well-established and diversified businesses include operations in financial services, real estate assets, media, technology and strategic investment, with more than 12,000 employees globally.
China Oceanwide is the controlling shareholder of the Shenzhen-listed Oceanwide Holdings Co., Ltd. and Minsheng Holdings Co. Ltd.; the Hong Kong-listed China Oceanwide Holdings Limited; the privately-held Minsheng Securities, Minsheng Trust, and Asia-Pacific Property & Casualty Insurance; and it is the single largest shareholder of Australia-listed CuDECO Ltd. China Oceanwide also is a significant investor in Shanghai-listed China Minsheng Bank. In the United States, China Oceanwide has real estate investments in New York, San Francisco, Los Angeles, and Hawaii.
About IDG Capital
Founded in 1993, IDG Capital, a pioneer US venture capital firm entering into China, is now the leading venture capital firm in China, with offices in Hong Kong, Beijing, Shanghai, Guangdong, Shenzhen, Hangzhou, Silicon Valley and Boston. IDG Capital invests in a wide range of industry sectors, including the Internet, wireless communications, consumer products, franchise services, new media, entertainment, education, healthcare and advanced manufacturing. Since its establishment, IDG Capital has invested in more than 500 outstanding companies in China. The company has also successfully exited from over 120 investments by mergers and acquisitions or by IPOs in the U.S., Hong Kong and China, including companies such as Baidu, Tencent, Sohu, Ctrip, SouFun, Qihoo 360, Xiaomi, Meitu, Creditease, HomeInns, Huazhu Hotels Group, and more. In 2005, IDG Capital partnered with Accel Partners to launch a series of IDG Accel China Growth and Capital funds. IDG Capital launched IDG Venture Fund IV in 2014 and IDG Capital Fund III in 2016, respectively, in partnership with Breyer Capital.
http://www.businesswire.com/news/ho...anwide-IDG-Capital-Announce-Agreement-Acquire
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