Chinese Firm 'Mulls JD Power Acquisition'
Chinese investment and research firm XIO Group is considering a bid to acquire US-based auto research specialist JD Power and Associates, according to a report published by Reuters.
Founded in 1968, JD Power is headquartered in Westlake Village, California and employs around 7,000 people in twelve global offices, conducting customer satisfaction surveys, buyer behaviour analysis and product quality audits for clients in the automotive and other sectors. McGraw Hill Financial acquired the firm in 2005, but was said last October by Reuters to be considering selling it again, for up to $1 billion.
In its latest report, Reuters says the Chinese firm faces competition for the acquisition from Western private equity firms, including Advent International Corp. Representatives from Advent, McGraw-Hill Financial and XIO Group have thus far declined to comment.
Web sites: www.xiogroup.com and www.jdpower.com .