Google has acquired an ICG Group one of consolidated companies, Channel Intelligence for $125 million in cash. The companies have signed a definitive agreement and the transaction 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.
“The sale of CI to Google is a testament to the quality of its technology and its strong team led by ICG President, Doug Alexander, who positioned the company to succeed in the rapidly growing e-marketing industry,” said Walter Buckley, CEO of ICG. “As drivers and architects of CI’s growth and success, we are very pleased with this outcome.”