IHS Markit Announces Acquisition of AutomotiveMastermind, Inc.
IHS Markit (Nasdaq: INFO), a leading information, analytics and solutions company, today announced the acquisition of AutomotiveMastermind, Inc., a provider of predictive analytics and marketing automation software for the automotive industry.
AutomotiveMastermind, which was founded in 2012, provides U.S. automotive dealers with behavior prediction analytics software and marketing solutions that improve the vehicle purchase process and outcomes. The company’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted customer communications, leading to 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 of 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.”
IHS Markit acquired 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 in the course of the next five years based on underlying business performance.