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US media giant buys CPI for $5.5mn
by Rob Corder on Thursday, 15 May 2008
Computer News Middle East will now be owned and run by IDG.
International Data Group (IDG), a $1.5 billion US media company, has bought its UAE franchise partner CPI IT for $5.5 million.
CPI was formed in 1991, and publishes a range of magazines for the Middle East IT community. The company also publishes OK magazine under licence.
Patrick McGovern, chairman of IDG Group, said that the company would acquire 90% of CPI IT immediately, and the remaining 10% in four to five years time.
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