WESTLAKE VILLAGE, Calif.,
July 1, 2015 /PRNewswire/
-- J.D. Power today completed its acquisition of NADA's Used
Car Guide, an investment that brings together Power Information
Network® (PIN) from J.D. Power, which combines advanced analytics
of new- and used-vehicle retail sales and pricing data, with the
extensive knowledge, expertise and market presence of the NADA Used
Car Guide. The acquisition was announced May
28.
"The acquisition of NADA Use Car Guide expands J.D. Power's
analytical and modeling capabilities, deepening its presence in
auto finance and auto insurance, and enriching retail solutions,"
said Douglas L. Peterson, president
and chief executive officer of McGraw Hill Financial. "J.D. Power's
impressive breadth of automotive benchmarking, and analytical and
advisory services, ideally positions it to create unique market
intelligence with unparalleled value by combining NADA used-car
analytics with PIN's extensive new-car retail and pricing
capabilities."
J.D. Power is a global marketing information services company
providing performance improvement, social media and customer
satisfaction insights and solutions, and a division of McGraw Hill
Financial (NYSE: MHFI).
Established by NADA in 1933, NADA Used Car Guide is a leading
provider of U.S. retail, loan, trade-in and auction used-vehicle
values, and is widely recognized in the industry as the authority
for accurate and comprehensive used-vehicle valuation information.
Part of J.D. Power's automotive operations, NADA Used Car Guide
will continue to serve its more than 100,000 subscribing clients,
including retailers, financial institutions, insurers and software
providers, under the day-to-day leadership of Mike Stanton, vice president and chief operating
officer of the NADA Used Car Guide.
"NADA Used Car Guide, with its vehicle valuation capabilities
and analytical solutions, is a perfect complement to PIN's
expertise in new- and used- vehicle retail and pricing services,"
said Finbarr O'Neill, president of
J.D. Power. "The Guide's high integrity and unbiased approach to
used-vehicle values, analytics and insights fits perfectly with
J.D. Power's reputation as a trusted advisor to the automotive
industry."
About J.D. Power: J.D. Power is a global marketing
information services company providing performance improvement,
social media and customer satisfaction insights and solutions. The
company's quality and satisfaction measurements are based on
responses from millions of consumers annually. Headquartered in
Westlake Village, Calif., J.D.
Power has offices in North/South
America, Europe and
Asia Pacific. J.D. Power is a
business unit of McGraw Hill Financial. Visit
www.jdpower.com/about-us/press-release-info to learn more.
About McGraw Hill Financial: McGraw Hill Financial
is a leading financial intelligence company providing the global
capital and commodity markets with independent benchmarks, credit
ratings, portfolio and enterprise risk solutions, and analytics.
The Company's iconic brands include: Standard & Poor's Ratings
Services, S&P Capital IQ, S&P Dow Jones Indices, Platts,
CRISIL and J.D. Power. The Company has approximately 17,000
employees in 30 countries. Additional information is available at
www.mhfi.com.
About NADA Used Car Guide: Since 1933, NADA Used Car
Guide has earned its reputation as the leading provider of vehicle
valuation products, services and information to businesses
throughout the United States and
worldwide. NADA's editorial team collects and analyzes over 1
million combined automotive and truck wholesale and retail
transactions per month. Its guidebooks, auction data, analysis and
data solutions offer automotive/truck, finance, insurance and
government professionals the timely information and reliable
solutions they need to make better business decisions. Visit
www.nada.com/b2b to learn more.
Forward-Looking Statements: This press release contains
"forward-looking statements," as defined in the Private Securities
Litigation Reform Act of 1995. These statements, which express
management's current views concerning future events, trends,
contingencies or results, appear at various places throughout this
release and use words like "anticipate," "assume," "believe,"
"continue," "estimate," "expect," "forecast," "future," "intend,"
"plan," "potential," "predict," "project," "strategy," "target" and
similar terms, and future or conditional tense verbs like "could,"
"may," "might," "should," "will" and "would." For example, we may
use forward-looking statements when addressing topics such as: the
outcome of contingencies; changes in our business strategies and
methods of generating revenue; the development and performance of
our services and products; the expected impact of acquisitions; and
our cost structure, cash flows or liquidity.
Forward-looking statements are subject to inherent risks and
uncertainties. Factors that could cause actual results to
differ materially from those expressed or implied in our
forward-looking statements include, among other things:
- the strength and performance of the domestic and international
automotive markets;
- worldwide economic, financial, political and regulatory
conditions;
- concerns in the marketplace affecting our credibility or
otherwise affecting market perceptions of the integrity or utility
of our products and services;
- our ability to maintain adequate physical, technical and
administrative safeguards to protect the security of confidential
information and data, and the potential of a system or network
disruption that results in regulatory penalties, remedial costs
and/or improper disclosure of confidential information or
data;
- the effect of competitive products and pricing;
- consolidation in our end-customer market;
- the impact of cost-cutting pressures across the automotive
industry;
- the level of success of new product development and global
expansion;
- our ability to integrate, and realize expected synergies,
savings or benefits from the businesses we acquire;
- the level of our capital investments;
- our ability to successfully recover should we experience a
disaster or other business continuity problem, such as a hurricane,
flood, earthquake, terrorist attack, pandemic, security breach,
cyber-attack, power loss, telecommunications failure or other
natural or man-made disaster; and
- our exposure to potential criminal sanctions or civil remedies
if we fail to comply with foreign and U.S. laws and regulations
that are applicable in the domestic and international jurisdictions
in which operate.
The factors above are not exhaustive. McGraw Hill Financial and
its subsidiaries operate in a dynamic business environment in which
new risks may emerge frequently. Accordingly, we caution readers
not to place undue reliance on the above forward-looking
statements, which speak only as of the dates on which they are
made. McGraw Hill Financial and its subsidiaries undertake no
obligation to update or revise any forward-looking statement to
reflect events or circumstances arising after the date on which it
is made.
Further information about our businesses, including information
about factors that could materially affect our results of
operations and financial condition, is contained in McGraw Hill
Financial's filings with the SEC, including Item 1a, Risk Factors,
in our most recently filed Annual Report on Form 10- K.
Media Relations Contacts
John
Tews; J.D. Power; Troy,
Mich.; 248-680-6218; media.relations@jdpa.com
Jason Feuchtwanger; McGraw Hill
Financial; 212-512-3151; jason.feuchtwanger@mhfi.com
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SOURCE J.D. Power