ICG Company Channel Intelligence to be Acquired by Google

Feb 06, 2013


ICG Group, Inc. announced that one of its consolidated companies, Channel Intelligence, Inc. ("CI"), has entered into a definitive agreement to be acquired by Google Inc. for $125 million in cash. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2013.

ICG is expected to realize approximately $60.5 million in connection with the transaction. A portion of ICG's proceeds will be held in escrow and will be subject to potential identification claims.

(www.channelintelligence.com)