IHS Inc. has announced the acquisition of CSM Worldwide, a Detroit-based automotive market forecasting firm dedicated to providing automotive suppliers with market information and production, powertrain and sales forecasting.
The purchase price is approximately USD27m.
“CSM’s strengths in the supplier market, production and powertrain analysis, and North American and Asian customer markets are highly complementary to IHS strengths in original equipment manufacturer (OEM), sales analysis and European markets,” said IHS Chairman and Chief Executive Officer Jerre Stead.
“The growing global automotive market is an attractive opportunity for IHS, with a high demand for information and insight to help drive large capital decisions.”
It is claimed that ‘more than 85 percent of the world’s top automotive OEMs and suppliers subscribe to CSM for their forecasting needs and strategic planning’. The company’s core services include the Vehicle Production Forecast Service, Vehicle Sales Forecast Service, Powertrain Forecast Service, Supply Chain & Technology Forecast Service and Advisory Service.
IHS automotive (also known as a part of IHS Global Insight) is comprised of more than 100 analysts located in eight countries.
“Becoming a part of IHS creates tremendous opportunity and allows us to leverage the experience and expertise of both organizations to better serve our customers around the world,” said CSM Worldwide Founder, President and CEO Craig Cather, who will direct the combined automotive forecasting and analysis operations of CSM and IHS.
“Our combined automotive forecasting business will offer clients unparalleled intelligence related to the global automotive market.”
Stead added: “Our colleagues have done an outstanding job in developing best-in-class products and services for our customers, and the addition of CSM Worldwide and its colleagues supplements and expands our position in the automotive intelligence space making us the best choice for customers around the world. The commercial and operational synergies of a combined IHS and CSM automotive business will expand our sales opportunities through new and larger customer relationships and leverage existing investments in information management tools and platforms to better serve an industry that is rapidly returning to profitability and sustained demand, production and investment.”