Globis and Inspire acquire IID, subsidiary of IRI aiming for IPO in 2014 /Venture Now

IID runs RBB Today, IT news media and others. The company announced that Globis Capital Partners and Inspire Investment acquired its shares from a parent company, IRI and other existing share holders.

Globis takes 35% and Inspire has 12.9% with the investment. A share of the capital of IRI goes down to 36% from 77%.

IID was founded as a 100% subsidiary of IRI on April 2000. The company operates several vertical media such as RBB Today and Response, automotive news site.

It has 1.3 billion yen of revenue in 2010 FY and targets over 2 billion yen this year. The company plans to go IPO in 2014.

Venture Now 4/20/2011

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• Inspire also invests in Cerevo, Internet enabled consumer appliance maker.