Autovista Group, the owner of UK car values brand Glass’s, has been acquired by the global automotive data and analytics firm JD Power.
Through its brands Autovista, Eurotax, Glass’s, Schwacke and Rødboka, Autovista Group categorises hundreds of technical attributes for virtually every vehicle produced in the European and Australian markets to support clients with detailed vehicle data and analysis for use in valuations, forecasts and repair estimates.
JD Power said the acquisition complements its own strengths in vehicle valuation and detailed vehicle specification data and analytics while broadening its footprint into the European and Australian automotive markets.
Autovista Group’s senior leadership and its 700 employees will continue with the company and will become JD Power’s automotive data and analytics platform for Europe and Australia.
It said the deal means the expanded business will give vehicle manufacturers, dealers, insurers and financing companies a truly global view of critical trends influencing the industry, along with the tools they need to accurately forecast risk, capitalize on burgeoning trends and align sales strategy with real-time market dynamics.
Lindsey Roberts, Autovista chief executive, will continue to lead the team as president of JD Power Europe, reporting to JD Power’s global chief executive Dave Habiger.
“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,” said Roberts.
“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 launch innovative new products and pursue strategic add-on acquisitions in Europe and Australia.”
Autovista Group is being sold by Hayfin Capital Management, an asset management firm which has owned it since 2015.
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.
“Precise vehicle valuations and detailed vehicle specifications are the central underpinning to every data-driven strategy in the automotive industry—from optimizing 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,” said Habiger (pictured above) at JD Power.
“Additionally, as U.S. 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 behavior. We are excited for the Autovista team to join JD Power and for the future growth opportunities we will pursue together.”