IHS Inc. (NYSE: IHS) announced it has signed a definitive agreement to acquire R.L. Polk & Co., a recognized leader in providing automotive information and analytics solutions. The acquisition is subject to customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The deal is valued at US$1.4bn.
About R.L. Polk & Co. (www.polk.com) – Polk is the premier provider of automotive information and marketing solutions. The organization collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk is the owner of the used-car shopping tool Carfax.
CARFAX (www.carfax.com) is a vehicle history expert for used car buyers, sellers and the automotive industry. CARFAX created the Vehicle History Report in 1986 and maintains the largest vehicle history database ever assembled, comprising over 11 billion vehicle records from more than 75,000 data sources across North America. Over the past five years, CARFAX expanded operations to key countries in Europe.
Polk announced in March that it would put itself up for sale. The family-owned provider would change hands for the first time in about 140 years.