USA: McGraw-Hill snaps up JD Power and Associates
Privately owned JD Power & Associates, the research firm best known for its surveys of cars and other consumer products, has been sold to the publisher McGraw-Hill. The sale follows indications last year that the firm's owners were interested in selling.
Terms of the sale were not disclosed.
"JD Power and Associates is an excellent fit with The McGraw-Hill Companies, and will enhance our growth prospects for our business information platforms," said Harold McGraw III, Chairman, President and Chief Executive Officer of The McGraw-Hill Companies. "Both organizations share a long history and deep commitment to providing independent industry ratings and benchmarks that help businesses and consumers make effective decisions. JD Power and Associates will benefit from our broad global presence and our detailed knowledge of major industries, including financial services, construction, energy, aviation and healthcare," said Mr McGraw in a statement.
"In The McGraw-Hill Companies, we have found an ideal partner that will provide our firm with the best opportunity to extend JD Power and Associates' reach globally and into new vertical markets," said J David Power III (Dave Power). "I am personally delighted to have found a partner that shares our heritage of integrity and independence, and our unyielding commitment to providing objective research and analysis. There will be a smooth transition for our customers and employees, and we look forward to working closely with our new colleagues on a host of exciting growth opportunities."
J David Power III, a market researcher who had worked for Ford and General Motors, founded the company 37 years ago.