J.D. Power Acquired By XIO GroupAuto News
Consultancy and consumer studies are big business. Data, big data, is priceless- which is why companies like Facebook and Google collect so much of it. But to gather data for a specific context and situation, for a specific demographic or customer base, requires the work of a consumer studies expert- one like J.D. Power.
The company has operated in various markets around the world, and is known primarily for their automotive market surveys for customer satisfaction and vehicle reliability. Back in 2005, it was acquired by McGraw Hill Financial Inc., where it continued to provide customer survey and analysis to various companies. This year sees the company trading hands once again after being put up for auction. The new owners are XIO Group, which are based out of London, Shanghai, and Hong Kong. They beat out Advent International Corp. for the bid, according to an April report by Reuters, with a 1.1 billion USD acquisition of the company.
While the acquisition is not necessarily any cause for concern, the focus for the company may shift in the coming months. So far the word is that they are planning to boost and bolster their global operation, but XIO is focused primarily on pushing in high-growth markets- not necessarily established ones. J.D. Power currently employs over 700 people and is based out of California. Estimated revenue for the company this year is a solid 350 million USD.