JD Power has signed a definitive agreement to acquire Autovista Group, which owns automotive data firms such as Glass’s and Eurotax, for an undisclosed amount.

Autovista Group provides clients with a 360-degree view of detailed vehicle data via its Autovista, Glass’s, Eurotax, Schwacke and Rødboka brands

The acquisition complements JD Power’s strengths in vehicle valuation and detailed vehicle specification data and analytics while expanding the company into the European and Australian automotive markets.

Autovista Group, which is currently owned by Hayfin Capital Management, spans five brands – Autovista, Glass’s, Eurotax, Schwacke and Rødboka – and provides clients with a 360-degree view of detailed vehicle data for use in valuations, forecasts and repair estimates.

Autovista Group’s senior leadership and its 700 employees will stay on with the company and will become JD Power’s automotive data and analytics platform for Europe and Australia. Lindsey Roberts will continue to lead the team as president, JD Power Europe reporting to CEO Dave Habiger.

JD Power said the tie-up of Autovista Group’s comprehensive European and Australian market intelligence with its own predictive analytics and valuation and customer experience datasets would bring a range of benefits to its OEM, dealer, insurer and financing business customers.

Dave Habiger, president and CEO at JD Power, commented: “Precise vehicle valuations and detailed vehicle specifications are the central underpinning to every data-driven strategy in the automotive industry – from optimising vehicle production to calculating residual values to all manner of insurance – and finance-related risk assessment and repair models, and the combined assets of JD Power and Autovista Group will create truly comprehensive, global valuation and forecasting solutions.”

He added: “Additionally, as US consumers increasingly adopt the European model of configuring and ordering a custom vehicle specification, rather than picking whatever the dealer has on the lot, Autovista’s detailed, vehicle-specific data and analytics will give OEMs critical information they need to navigate this change in consumer behaviour.”

Lindsey Roberts, CEO at Autovista, also commented: “The global automobile industry is undergoing a historic transformation in which an ever-increasing array of models and fuel types, volatile swings in used car values and lingering supply chain challenges are making it more difficult than ever to project future value and understand total cost of ownership.

“By pairing our leading pan-Europe- and Australia-focused datasets with JD Power’s robust North American and Asian market data, analytics and insights, we are creating the truly global solution the industry needs to manage through this period of radical change.”

The acquisition of Autovista Group is expected to close by the end of 2023 and is subject to customary closing conditions as well as regulatory review and approval.