J.D. Power sold for $1.1 billion to XIO investment firm
McGraw Hill Financial sold its global market research business J.D. Power to XIO Group for $1.1 billion.
The London-based investment firm XIO is known for purchasing North American and European businesses and helping them grow in Asia.
J.D. Power employs about 200 workers in Westlake Village and there are no initial signs that the deal would displace workers or uproot J.D. Power’s location. It recently moved from its 2625 Townsgate Road location in Thousand Oaks to a newer 116,906-square-foot office over county lines at 30870 Russell Ranch Road in Westlake.
The company delivers performance improvement data and customer satisfaction feedback for major brands. The sale is expected to close in the third quarter.
McGraw Hill announced that it was exploring a deal in October in order to focus on capital and commodity markets.
• Bloomberg News contributed to this report. Contact Alex Kacik at firstname.lastname@example.org.