The McGraw-Hill Companies Completes Acquisition of J.D. Power and Associates
NEW YORK, April 1 /PRNewswire-FirstCall/ -- The McGraw-Hill Companies (NYSE: MHP) today announced that it has completed its previously announced acquisition of J.D. Power and Associates, a leading provider of marketing information to consumers and businesses worldwide. Terms were not disclosed.
"J.D. Power and Associates is an excellent fit with The McGraw-Hill Companies and will enhance the growth prospects of our business information platforms," said Harold McGraw III, Chairman, President and Chief Executive Officer of The McGraw-Hill Companies. "J.D. Power will benefit from our broad global presence, while providing a new direct link to consumers and creating new collaborative opportunities with our existing platforms in financial services, construction, energy and aviation."
J.D. Power and Associates, founded in 1968 by J.D. Power III, is the leading provider of marketing information services for the global automotive industry and has established a strong and growing presence in several other important industries, including finance and insurance, healthcare, home building, telecommunications and energy. Its customer satisfaction ratings and market research are recognized worldwide as benchmarks for quality.
J.D. Power III, the founder, will remain actively involved in the strategic direction of the operation, and Stephen Goodall will continue to serve as J.D. Power and Associates president, with responsibility for day-to- day operations. The company, which includes the Power Information Network, LLC, has 787 employees, operates globally in 12 locations and will maintain its Westlake Village, California, headquarters as well as its other regional offices.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 280 offices in 37 countries. Sales in 2004 were $5.3 billion. Additional information is available at http://www.mcgraw-hill.com.
SOURCE The McGraw-Hill Companies