Market Overview

IHS Markit Announces Acquisition of automotiveMastermind Inc., Leader in Predictive Analytics for the Automotive Industry

Share:

Expands automobile data and insight offerings across professional and
retail markets

IHS
Markit
(NASDAQ:INFO), a world leader in information, analytics and
solutions, today announced the acquisition of automotiveMastermind
Inc.
, the leading provider of predictive analytics and marketing
automation software for the automotive industry.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170926005531/en/

Founded in 2012, automotiveMastermind currently provides U.S. automotive
dealers with behavior prediction analytics software and marketing
solutions that improve the vehicle purchase process and results. The
company's cloud-based technology helps dealers precisely predict
automobile-buying behavior and automates the creation of micro-targeted
customer communications, leading to proven higher sales and more
consistent customer retention.

"The acquisition of automotiveMastermind opens up a key new market for
IHS Markit, and increases our presence in the vehicle retail space,"
said Jerre Stead, chairman and CEO, IHS Markit. "It's an excellent
strategic fit for us within our overall portfolio, and helps to fill out
our existing offerings by leveraging predictive analytics to improve the
buyer experience. We now deliver unparalleled insight and analytics
across the automotive lifecycle: from vehicle strategy and product
planning, to vehicle sales, marketing and repair."

"Through our core automotive assets, which includes CARFAX, we already
provide our global automotive customers with a comprehensive suite of
information services and analytics," said Jonathan Gear, executive vice
president of transportation and resources for IHS Markit. "The addition
of automotiveMastermind extends our capabilities further. It enables us
to deliver a powerful set of tools -- including data aggregation and
analytics driven by machine learning -- that will help OEMs and dealers
sell cars more effectively."

"We could not be more excited since there is no better partner to help
us realize our vision of radically transforming the traditional consumer
purchase journey," said Marco Schnabl, co-founder of
automotiveMastermind. "The vast resources offered by IHS Markit will
help us achieve that vision faster." Added co-founder Johannes Gnauck,
"Our behavior prediction technology will be exponentially richer by
leveraging the wealth of IHS Markit data assets."

Currently, automotiveMastermind works with dealers across 15 automotive
brands. automotiveMastermind is headquartered in New York City with a
product innovation hub in San Francisco. For more information, visit www.automotivemastermind.com.

IHS Markit acquired approximately 78 percent of automotiveMastermind for
a purchase price of approximately $392 million, which can increase up to
$435 million tied to underlying business performance. IHS Markit will
acquire the remaining 22 percent over the next five years based on
valuation tied to underlying business performance. More details will be
presented during the IHS Markit third
quarter 2017 earnings call
, which begins today at 8:00 am ET.

automotiveMastermind's exclusive financial advisor is Jefferies LLC and
legal advisor is Goodwin Procter LLP.

About IHS Markit (www.ihsmarkit.com)

IHS Markit (NASDAQ:INFO) is a world leader in critical information,
analytics and expertise for the major industries and markets that drive
economies worldwide. The company delivers next-generation information,
analytics and solutions to customers in business, finance and
government, improving their operational efficiency and providing deep
insights that lead to well-informed, confident decisions. IHS Markit has
more than 50,000 key business and government customers, including 85
percent of the Fortune Global 500 and the world's leading financial
institutions.

IHS Markit is a registered trademark of IHS Markit Ltd. and/or its
affiliates. All other company and product names may be trademarks of
their respective owners © 2017 IHS Markit Ltd. All rights reserved.

About automotiveMastermind (www.automotivemastermind.com)

Founded in 2012, automotiveMastermind is the leading provider of
predictive analytics and marketing automation technology for the
automotive industry. The company's cloud-based platform helps dealers
precisely predict automobile-buying behavior and automates the creation
of micro-targeted consumer communications, leading to proven higher
sales and more consistent customer retention. automotiveMastermind
currently works with more than 1,000 dealer partners. Headquartered in
New York City and San Francisco, automotiveMastermind has now tripled
its employee count in the last year. For more information, visit automotivemastermind.com
or follow on Twitter @autoMastermind.

View Comments and Join the Discussion!
 

Partner Center

Loading...