ArabianBusiness.com reports that 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.