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Monday, 09 November 2009 07:03 UAE time

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US media giant buys CPI for $5.5mn

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 15 May 2008
Computer News Middle East will now be owned and run by IDG.
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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