Investment group XIO Group has finalized its acquisition of J.D. Power and Associates from S&P Global for $1.1 billion. The deal was first announced in April.
The global alternative investments firm will support J.D Powers efforts toward growth, broadening its international reach, and leveraging its access to proprietary data and analytics to support customers, according to J.D Power.
“This is an exciting time for J.D. Power,” said Finbarr O’Neill, president of J.D. Power. “We are joining a firm with the resources and motivation we need to accelerate our growth, bolster our competitive position, and broaden our global footprint. We believe that XIO Group is the ideal partner to help us expand our data and analytics capabilities globally, enhancing our customer solutions and meeting our clients’ needs in an increasingly mobile, connected world.”
J.D. Power will remain headquartered in Costa Mesa, Calif., and continue to be led by its existing senior management team.
“We are delighted to be partnering with J.D. Power and working together to build on the company’s strong foundation,” said Joseph Pacini, CEO of XIO Group. “J.D. Power has excellent brand recognition supported by a first-class management team and we are extremely optimistic about the company’s long-term prospects.