IDG eyes big data, mobile internet

International Data Group - the US-based owner of PC World magazine as well as market researcher IDC - said on Wednesday that it will expand its business portfolio and its foray into big data and the mobile internet sectors, after it was acquired by a consortium made up of China Oceanwide Holdings Group Co and China-based IDG Capital.

The consortium completed the acquisition of the Boston-based group this month, but declined to reveal the transaction value. Insiders indicated the amount was between $500 million and $1 billion.

"The move is expected to cement IDG's position as a leader in the media sector," said Liu Bing, new president of IDG and vice-president of China Oceanwide.