The combined entity will operate under the J.D. Power name and have its headquarters in Troy, Mich.
This marks the second time in a little more than three years that ownership of J.D. Power has changed.
In April 2016, J.D. Power’s previous owner — global alternative investments firm XIO Group — made a $1.1 billion cash deal with McGraw Hill Financial for the company.
In regards to the latest move, J.D. Power President and Chief Executive Dave Habiger will continue in that role for the company.
“The combination of J.D. Power’s deep data, analytics and customer experience insights with Autodata Solutions’ comprehensive vehicle feature data and dealer and manufacturer technology platforms will create a robust and insightful automotive industry resource for analyzing consumer demand and optimizing the vehicle sales process,” Habiger said in a news release.
“As the auto industry continues to be disrupted by changing patterns of consumer behavior and new technologies such as connected vehicles, electric vehicles, autonomous vehicles and ridesharing, we are building a company that will help the entire industry rise to the challenge,” he said.
J.D. Power’s current management team plans to reinvest their ownership interests in the new entity, and current Autodata and J.D. Power employees are offered the chance to acquire an ownership stake, as well.
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