Los Angeles, California – A US private equity firm that recently acquired Autodata Solutions Group has now reached an agreement to buy JD Power and Associates, the data analytics and consumer intelligence firm that also has close ties to the auto industry.
Equity firm Thoma Bravo, with offices in San Francisco and Chicago, said it expects the transaction to acquire JD Power to close by year end, subject to customary closing conditions.
Terms were not disclosed.
In a statement issued 30 July 30, JD Power CEO Dave Habiger said the acquisition will help fuel growth for the firm known for its automotive quality awards and the power information network.
"We are thrilled to partner with Thoma Bravo, a firm that clearly understands our space and is well-positioned to help us develop new growth opportunities," the statement said.
Scott Crabill, a managing partner at Thoma Bravo, said in the statement that JD Power was one of the “most recognised” brands in the world with significant near- and long-term growth potential.
Thoma Bravo has a portfolio of companies focused on the software and technology-enabled service sectors and has a series of funds representing more than $30 billion (€26.7 billion) in capital commitments, according to company information.
In May, the equity firm announced that it had completed the acquisition of Autodata Solutions Group of London, Ontario, which supplies data and software services to the automotive industry. Terms were not disclosed.