US consumer research firm JD Power & Associates has agreed to a buy-out by information media giant McGraw-Hill.
Power, best known for its widely-quoted vehicle quality surveys, has not revealed the sums involved. The deal is expected to close next month, subject to approval from competition regulators.
The firm, which also provides research for the insurance, construction, energy, financial services, health and airline industries, was founded in 1968 by J David Power III and is still privately owned. Power will step down as chairman but will remain involved in the business.
McGraw-Hill, publisher of Business Week Magazine among many other B2B journals, wants to diversify into areas not reliant on advertsing.
Says spokesman Steven Weiss: "Power will bring a strong new dimension to our business. We know about the B2B world, but Power will bring an important link to the consumer."
Data sourced from USA Today Online; additional content by WARC staff