ICG Group, Inc. ICGE
("ICG") is pleased to announce that one of its consolidated companies, Channel
Intelligence, Inc. ("CI"), has entered into a definitive agreement to be
acquired by Google Inc. GOOG 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. ICG does not expect to owe any
income taxes in connection with the transaction.
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