Monday, June 10, 2013

IHS Buys R.L. Polk In $1.4 Billion Deal

Englewood, Colorado-based IHS said today that it is in a deal to acquire R.L. Polk & Co., in a deal worth $1.4 billion. R.L. Polk is a provider of automotive information and analytics, including the well known CARFAX and Polk brands. IHS said it would fund the transaction from 10 percent equity and the remainder from cash on hand at the company, a revolving loan, and a new bank term loan. IHS said R.L. Polk has approximately $400M in annual revenues.