JD Power has been sold to China’s XIO Group
McGraw-Hill to sell JD Power to China’s XIO Group
McGraw-Hill Financial said it would sell car rating unit J.D. Power and Associates to China-based buyout firm XIO Group for $1.1 billion.
Reuters reported this month that XIO Group was seeking to buy J.D. Power, which provides data on performance improvement and customer satisfaction, mainly for the auto and advertising industries.
McGraw-Hill Financial, the parent of Standard & Poor’s ratings agency, said in October it was exploring a sale of J.D. Power, which had annual revenue of about $350 million.
The deal is expected to close in the third quarter. Morgan Stanley advises McGraw Hill on the deal.
The McGraw-Hill unit was started by J.D. “Dave” Power and wife Julie in 1968 from their home in Calabasas, California, and landed Toyota Motor as their first client.
NOTE: the deal is already done.
JD Power中国
Chinese Auto Manufacturers Continue to Close Quality Gap in J.D. Power Vehicle Dependability Study
http://china.jdpower.com/zh-hans
Chinese Auto Manufacturers Continue to Close Quality Gap in J.D. Power Vehicle Dependability Study
Beijing Hyundai Receives Three of 12 Model-Level Awards; Porsche Ranks Highest in Vehicle Dependability among Luxury Brands; MINI and Volkswagen Rank Highest among Mass Market Brands
Models ranking highest overall in their respective segments are:
Compact Mini: Geely Panda
Compact Upper: Hyundai Verna
Midsize Basic; Honda City Fengfan
Midsize: Kia Cerato
Midsize Upper Economy: MINI
Midsize Upper: Hyundai Sonata
Compact Luxury: Mercedes-Benz C-Class
Midsize Luxury: Mercedes-Benz E-Class
Midsize SUV: Hyundai Tucson
Midsize Luxury SUV: Lexus RX
Large Luxury SUV: Audi Q7
Mini Van: Wuling Sunshine
About J.D. Power
J.D. Power has offices in Tokyo, Singapore, Beijing, Shanghai, Malaysia and Bangkok that conduct customer satisfaction research and provide consulting services in the automotive, information technology and finance industries in the Asia Pacific region. Together, the six offices bring the language of customer satisfaction to consumers and businesses in Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Taiwan, Thailand and Vietnam. Information regarding J.D. Power and its products can be accessed through the Internet at asean-oceania.jdpower.com.