- Posted July 17, 2013
- Tweet This | Share on Facebook
IHS closes on acquisition of R.L. Polk & Co.
ENGLEWOOD, Colo. (AP) -- Business information and analytics firm IHS has completed its $1.4 billion acquisition of R.L. Polk & Co., the owner of the popular Carfax service.
The deal was announced last month. IHS is making R.L. Polk & Co. part of its automotive segment.
Southfield, Mich.-based R.L. Polk & Co. collects global auto sales, registration and other data and sells it to automakers and parts companies. Its Carfax service compiles vehicle history reports that include title changes and damage from crashes.
The company was founded by Ralph Lane Polk in 1870, as publisher of city directories. Polk began publishing automotive industry statistics in the early 1920s at the request of General Motors president Alfred P. Sloan, according to the R.L. Polk & Co. website.
IHS president and CEO Scott Key said in a statement on Tuesday that IHS plans to broaden Polk and Carfax's reach, as IHS already has an existing presence in markets in Brazil, India, Russia, the Asia-Pacific region and Europe, the Middle East and Africa.
IHS Inc., which is based in Englewood, Colo., provides information to businesses and governments in more than 165 countries. Its shares finished at $111.09 on Monday.
Published: Wed, Jul 17, 2013
headlines Oakland County
- Annual Meeting
- Board of Commissioners dedicates funding to complete $29 million in local Oakland County road projects
- Supreme Court leaves in place Avenatti conviction for plotting to extort up to $25M from Nike
- Washington Twp. man guilty of killing his wife
- ABA meeting tackles AI, other ethical issues in changing landscape of profession
headlines National
- This Los Angeles lawyer found her calling as a death doula
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Artificial intelligence tools for brief writing and analysis are a small firm litigator’s new best friend
- Baker McKenzie partner drops suit seeking IRS documents on partnership scrutiny
- Family members sue networks after learning of loved ones’ deaths by seeing bodies on TV
- Ex-BigLaw attorney once ‘consumed with remorse’ over $10M client theft sentenced in new scheme