J.D. Power Bought by XIO Group; Deal Appears to Have High Initial Quality
J.D. Power and Associates is planning to put more of your possessions under the microscope, now that they’ve taken on new ownership in a deal worth $1.1 billion.
Best known for its vehicle quality ratings, J.D. Power, a unit of McGraw Hill Financial Inc., was snapped up yesterday by London-based XIO Group, according to Reuters (via Automotive News).
The investment firm muscled out a competing private equity firm to land the cash deal, which is expected to close in the third quarter of this year. XIO Group has a strong footprint in China, where it is linked to many high-powered investors.
McGraw Hill Financial announced last October that it was hunting for strategic alternatives for J.D. Power.
The deal doesn’t change what J.D. Power has become famous for. The marketing information services firm, founded in 1968 by James David Power III, will continue with its quality and dependability rankings while branching out into other fields.
“We are thrilled that XIO Group recognizes the value of the J.D. Power brand and is committed to maintaining our core brand identity and values while helping us grow and expand,” said Fin O’Neill, president of J.D. Power, in a statement. “We believe this next chapter will allow us to increase our insights across a broader spectrum of consumer interaction, a more extensive global footprint and an increasingly digital, connected and mobile society.”
J.D. Power launched its automotive customer satisfaction index (CSI) study in 1981, followed by the initial quality study (IQS) in 1987. Besides turning a profit, topping a J.D. Power list has become the achievement that every automaker strives for.
HANDS UP if you are one of the people who actually buy products for yourself based around what "they" say.... *my hand isn't up*
2017 JD Power Rankings Dongfend Golden Breaking Wind Chery QQLOLORLY BYD G69 1984 VW Quantum
Every dealer I went to had some of those plastic JD Power trophies for us gullible customers to see.
ChungWongLeeFu Motors will be the highest rated automobile company ever once this takes place. Toyoduh and Honduh will be at the bottom and North Korean Motors, KimJungUnhung, will be given the benefit of the doubt so as not to caue them to go nuclear.