J.D. Power as well as Associates is planning to put more of your property under the microscope, now that they’ve taken on new ownership in a offer worth $1.1 billion.
Best known for its automobile quality ratings, J.D. Power, a unit of McGraw Hill Financial Inc., was snapped up yesterday by London-based XIO Team, according to Reuters (via Automotive News).
The investment company muscled out a competing private equity firm to land the cash deal, which is expected to near the coast the third quarter of this year. XIO Group has a strong footprint within China, where it is linked to many high-powered investors.
McGraw Hill Financial announced last October that it was hunting for strategic options for J.D. Power.
The deal doesn’t change what J.D. Power has become famous for. The marketing information services firm, founded in 1968 by James David Energy III, will continue using its quality and trustworthiness rankings while branching out into other fields.
“We are thrilled which XIO Group recognizes the value of the J.D. Power brand and is committed to maintaining our core brand identification and values whilst helping us grow and expand,” stated Fin O’Neill, president of J.D. Power, in a statement.? “We feel this next chapter allows us to increase the insights across the broader spectrum of consumer interaction, a far more extensive global impact and an increasingly digital, connected and cellular society.”
J.D. Energy launched its automotive customer satisfaction index (CSI) study in 1981, followed by the first quality study (IQS) in 1987. Besides turning a profit, topping a T.D. Power list has become the achievement that each automaker strives for.