LONDON -

IHS Markit has purchased automotiveMastermind, a provider of behavior prediction analytics software and marketing solutions to auto dealers, in a deal announced Tuesday that is potentially worth more than $400 million.

IHS Markit bought 78 percent of the predictive analytics company for roughly $392 million, IHS explained in a news release.  That figure can climb as potentially high as $435 million based on “underlying business performance,” the company said.

IHS plans to purchase the remaining 22 percent of automotiveMastermind between now and 2022, “based on valuation tied to underlying business performance,” it said.

“The acquisition of automotiveMastermind opens up a key new market for IHS Markit, and increases our presence in the vehicle retail space,” IHS Markit chairman and chief executive officer Jerre Stead said in a news release. “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.

“We now deliver unparalleled insight and analytics across the automotive lifecycle: from vehicle strategy and product planning, to vehicle sales, marketing and repair.”

IHS purchased CarProof Corp in late 2015, and acquired R.L. Polk & Co. (which includes Polk and Carfax) in 2013.

Jonathan Gear, who is executive vice president transportation and resources for IHS Markit, said in the release: “Through our core automotive assets, which includes Carfax, we already provide our global automotive customers with a comprehensive suite of information services and analytics.

“The addition of automotiveMastermind extends our capabilities further. It enables us to deliver a powerful set of tools — including data aggregation and analytics driven by machine learning —- that will help OEMs and dealers sell cars more effectively.”

AutomotiveMastermind is headquartered in New York and has a “product innovation hub” in San Francisco.

“We could not be more excited since there is no better partner to help us realize our vision of radically transforming the traditional consumer purchase journey,” said Marco Schnabl, co-founder of automotiveMastermind. “The vast resources offered by IHS Markit will help us achieve that vision faster.”

Co-founder Johannes Gnauck said: “Our behavior prediction technology will be exponentially richer by leveraging the wealth of IHS Markit data assets.”