J.D. Power Expands Automotive Data and Analytics Portfolio in Europe and Australia with Acquisition of Autovista Group
Michimich.com/10237232

Trending...
TROY, Mich. ~ J.D. Power, a global leader in data analytics, has announced a definitive agreement to acquire Autovista Group, a leading pan-European and Australian automotive data, analytics and industry insights provider. The acquisition is expected to close by the end of 2023 and is subject to customary closing conditions as well as regulatory review and approval.

The deal will bring together Autovista Group's comprehensive European and Australian market intelligence with J.D. Power's market-leading predictive analytics and valuation and customer experience datasets. This combination of assets will give original equipment manufacturers (OEMs), dealers, insurers and financing companies a truly global view of critical trends influencing the industry, along with the tools they need to accurately forecast risk, capitalize on burgeoning trends and align sales strategy with real-time market dynamics.

Dave Habiger, President and CEO at J.D. Power said: "Precise vehicle valuations and detailed vehicle specifications are the central underpinning to every data-driven strategy in the automotive industry—from optimizing vehicle production to calculating residual values to all manner of insurance—and finance-related risk assessment and repair models, and the combined assets of J.D. Power and Autovista Group will create truly comprehensive, global valuation and forecasting solutions."

More on Michimich.com
Autovista Group standardizes and categorizes hundreds of technical attributes for virtually every vehicle produced in the European and Australian markets, providing clients with a 360-degree view of detailed vehicle data for use in valuations, forecasts and repair estimates. In addition, its robust analytic solutions are relied upon by stakeholders throughout the automobile industry for detailed insights into vehicle values and ownership costs as well as repair costs.

Lindsey Roberts, CEO at Autovista said: "The global automobile industry is undergoing a historic transformation in which an ever-increasing array of models and fuel types, volatile swings in used car values and lingering supply chain challenges are making it more difficult than ever to project future value and understand total cost of ownership."

Autovista Group's senior leadership team along with its 700 employees will continue with the company under J.D Power's umbrella as its automotive data analytics platform for Europe & Australia while Lindsey Roberts will continue to lead the team as President reporting directly to Dave Habiger at J.D Power.

More on Michimich.com
Carlos Pla from Hayfin Capital Management said: "It has been a pleasure working with CEO Lindsey Roberts & the entire Autovista team...Together we have successfully grown the business & executed the strategy to become a purely digital play & better serve the increasingly digital automotive ecosystem."

RBC Capital Markets served as exclusive financial advisor & Kirkland & Ellis served as legal advisor to J.D Power while TD Cowen served as exclusive financial advisor & Macfarlanes Cravath Swaine & Moore & Mishcon de Reya served as legal advisors to Autovista Group & Hayfin respectively during this acquisition process .

J.D Power's acquisition of Autovista Group is expected to create strong value for customers by providing them access to comprehensive global valuation & forecasting solutions that can help them navigate through this period of radical change in automobile industry . With this acquisition , J D power also broadens its footprint into European & Australian automotive markets .
Filed Under: Business
Show All News | Report Violation

0 Comments

Latest on Michimich.com