Thoma Bravo has completed its purchase of J.D. Power, which will result in a merger of the latter with Autodata Solutions.
The combined entity will operate under the J.D. Power name and have its headquarters in Troy, Mich.
This marks the second time in a little more than three years that ownership of J.D. Power has changed.
In April 2016, J.D. Power’s previous owner — global alternative investments firm XIO Group — made a $1.1 billion cash deal with McGraw Hill Financial for the company.
Thoma Bravo announced an agreement to buy J.D. Power in July. It had purchased Autodata earlier in the year. Autodata provides data and software solutions to the auto industry.
In regards to the latest move, J.D. Power president and chief executive Dave Habiger will continue in that role for the company.
“The combination of J.D. Power’s deep data, analytics and customer experience insights with Autodata Solutions’ comprehensive vehicle feature data and dealer and manufacturer technology platforms will create a robust and insightful automotive industry resource for analyzing consumer demand and optimizing the vehicle sales process,” Habiger said in a news release.
“As the auto industry continues to be disrupted by changing patterns of consumer behavior and new technologies such as connected vehicles, electric vehicles, autonomous vehicles and ridesharing, we are building a company that will help the entire industry rise to the challenge,” he said.
J.D. Power’s current management team plans to reinvest their ownership interests in the new entity, and current Autodata and J.D. Power employees are offered the chance to acquire an ownership stake, as well.
Autodata’s Software-as-a-Service and software products including everything from back-end automation systems foster dealer-to-OEM vehicle ordering to consumer-focused interactive marketing.
The company’s Chrome products are designed to “increase the effectiveness of the automotive sales ecosystem and include rebates and incentives, Vehicle Identification Number (VIN) decode and describe, and vehicle configuration and comparisons,” J.D. Power said in a news release.
The combined companies aim to provide “a complementary set of capabilities that will strengthen the global automobile industry’s ability to forecast vehicle demand and shape strategic decision making.”
Craig Jennings is the former president and CEO of Autodata. He will stay on as the new company’s president for the Autodata division.
“The new J.D. Power delivers the authoritative ground truth and predictive intelligence the automotive industry so desperately needs right now to stay in sync with changing patterns of consumer behavior, rapid-fire technological change and a challenging macroeconomic environment,” Jennings said in a news release.
“By pairing our platform with J.D. Power’s deep data and analytics capabilities, we’re going to be able to take the guesswork out of the manufacturing and floor planning process, helping manufacturers and dealers drive maximum impact and profitability by getting the new vehicle formula just right. We are excited to be joining the J.D. Power team to make that vision a reality,” he said.
Thomas Bravo managing partner Scott Crabill said: “The joining of these two leading companies will enable the auto industry to make the process of configuring, ordering and selling cars more efficient, which can improve profitability and capital deployment. This capability is exactly the kind of proven, concrete insight the auto industry needs as it confronts changing consumer demands in a transforming technology environment.”