Tags: RL Polk | IHS

Information Company IHS to Buy Carfax Owner R.L. Polk for $1.4 Billion

Monday, 10 Jun 2013 07:46 AM

Automotive information firm R.L. Polk & Co., is selling itself to information company IHS in a $1.4 billion deal.

Polk is best known for owning Carfax, a service that compiles vehicle history reports that include title changes and damage from crashes.

The Englewood, Colo.-based IHS Inc. announced the deal Sunday night. IHS will pay 10 percent in stock and cover the rest with cash on hand, a revolving credit line and a new bank term loan.

IHS says the deal is subject to customary closing conditions.

Southfield, Michigan-based Polk collects global auto sales, registration and other data and sells it to automakers and parts companies.

IHS provides information to businesses and governments in more than 165 countries.

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Business information and analytics firm IHS says it will spend $1.4 billion to buy the privately held R.L. Polk, which operates vehicle history report provider Carfax.IHS Inc. says the deal will help it build its stake in the automotive industry. It says Polk's businesses...
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2013-46-10
Monday, 10 Jun 2013 07:46 AM
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