US-based data analytics company JD Power has announced a definitive agreement to acquire Autovista Group, a pan-European and Australian automotive data, analytics, and industry insights provider.
JD Power said the deal creates strong value for customers of both companies by bringing together Autovista Group’s “comprehensive” European and Australian market intelligence with JD Power’s predictive analytics and valuation, along with its customer experience datasets. The company added that the complementary offerings will give OEMs, dealers, insurers, and financing companies a global view of critical trends influencing the industry, and the tools needed to accurately forecast risk, capitalise on burgeoning trends, and align sales strategy with real-time market dynamics.
Through its five brands – Autovista, Eurotax, Glass’s, Schwacke and Rodboka – Autovista Group standardises and categorises hundreds of technical attributes for most vehicles produced in the European and Australian markets, providing clients with detailed vehicle data for use in valuations, forecasts, and repair estimates. Additionally, its analytic solutions and team of analysts provide detailed insights and benchmarks for vehicle values and ownership, repair, and replacement costs.
“The global automobile industry is undergoing a historic transformation in which an ever-increasing array of models and fuel types, volatile swings in used car values, and lingering supply chain challenges, are making it more difficult than ever to project future value and understand total cost of ownership,” said Lindsey Roberts, CEO of Autovista. “By pairing our leading pan-Europe- and Australia-focused datasets with JD Power’s robust North American and Asian market data, analytics, and insights, we are creating the truly global solution the industry needs to manage through this period of radical change.”
Dave Habiger, President and CEO of JD Power, said that as US consumers increasingly configure and order a custom vehicle specification rather than picking whatever the dealer has available, Autovista’s detailed vehicle-specific data and analytics will give OEMs critical information they need to navigate this change in consumer behaviour.
According to Pete Cimmet, Chief Strategy Officer at JD Power, the agreement will also lead to the launch of innovative products and strategic add-on acquisitions in Europe and Australia.
Autovista Group is currently owned by Hayfin Capital Management, a European alternative asset management firm.
The acquisition is expected to close by the end of 2023 and is subject to regulatory review and approval.