IHS Inc. is in Agreement to Buy Carfax and R.L. Polk

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IHS Inc. has entered into a defin­i­tive agree­ment to buy Car­fax and its par­ent com­pany R.L. Polk & Co., in a $1.4 bil­lion transaction.

Get the details on the trans­ac­tion that is tak­ing place.

IHS Inc. has entered a defin­i­tive agree­ment to buy Car­fax par­ent com­pany R.L. Polk & Co., in a $1.4 bil­lion transaction.

The deal must first go through cus­tom­ary clos­ing con­di­tions, includ­ing expi­ra­tion or ter­mi­na­tion of the applic­a­ble wait­ing period under the Hart-Scott-Rodino Antitrust Improve­ments Act of 1976.

“The acqui­si­tion of R.L. Polk brings exten­sive and com­ple­men­tary infor­ma­tion and ana­lyt­i­cal solu­tions that would estab­lish IHS as a vital strate­gic part­ner of the global auto­mo­tive value chain,” said IHS pres­i­dent and chief exec­u­tive offi­cer Scott Key.

“R.L. Polk has a long his­tory of pro­vid­ing crit­i­cal infor­ma­tion to the auto­mo­tive indus­try,” Key said. “The com­bi­na­tion with IHS Auto­mo­tive cre­ates a com­pre­hen­sive capa­bil­ity that will sig­nif­i­cantly enhance cus­tomers’ insights and deci­sion processes across the full vehi­cle life­cy­cle with ana­lyt­ics from prod­uct plan­ning through man­u­fac­tur­ing, sales and into auto­mo­tive aftermarkets.”

R.L. Polk includes two divi­sions: Polk and Car­fax. As Key put it, the company’s ser­vices are “com­ple­men­tary to exist­ing IHS Auto­mo­tive solu­tions and open up large adja­cent markets.”

Car­fax would be a “high-growth U.S. asset,” offi­cials said, that could be “repli­cated” else­where in the world amid strong inter­na­tional used-car growth.

“The con­tin­ued growth and trans­for­ma­tion of the auto­mo­tive indus­try through the next decade, led by global growth in light vehi­cle demand, tech­no­log­i­cal changes and the trans­for­ma­tion of the OEM sup­ply chain, will fuel strong growth in demand for data, research and ana­lyt­ics to sup­port invest­ment deci­sions,” Key said.

Stephen Polk, chair­man, pres­i­dent and CEO of R.L. Polk & Co., said: “We’re excited about the oppor­tu­ni­ties this acqui­si­tion would offer R.L. Polk clients by sup­port­ing solu­tions and ana­lyt­ics for our more than 30,000 cus­tomers world­wide. The IHS global reach would expand the unique and vital role we’ve played in the auto indus­try over all these years, help­ing stake­hold­ers across the value chain — from man­u­fac­tur­ers to con­sumers and a range of ser­vice providers in between — to func­tion more intel­li­gently and efficiently.”

 

 

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