March 8, 2005
McGraw-Hill buys J.D. Power and Associates
New York, New York – The McGraw-Hill Companies announced it had signed an agreement to acquire J.D. Power and Associates, a marketing information services organization that is well-known for its automotive Initial Quality and 5 year Dependability surveys. The transaction is expected to close in April. Terms were not disclosed.
“In The McGraw-Hill Companies, we have found an ideal partner that will provide our firm with the best opportunity to extend J.D. Power and Associates’ reach globally and into new vertical markets,” said J.D. Power III. “I am personally delighted to have found a partner that shares our heritage of integrity and independence, and our unyielding commitment to providing objective research and analysis. There will be a smooth transition for our customers and employees, and we look forward to working closely with our new colleagues on a host of exciting growth opportunities.”
“The addition of J.D. Power and Associates will significantly strengthen our core business information platform by providing a new direct link to consumers, while also providing new collaborative opportunities with our leading franchises including BusinessWeek, Platts, McGraw-Hill Construction, Aviation Week and our healthcare group,” said Scott Marden, president of The McGraw-Hill Companies’ Information and Media Services.
J.D. Power III, the founder, will remain actively involved in the strategic direction of the operation, and Stephen Goodall will continue to serve as J.D. Power and Associates president, with responsibility for day-to-day operations. The company, which includes the Power Information Network, LLC, has 787 employees, operates globally in 12 locations, and will maintain its Westlake Village, California, headquarters as well as its other regional offices.