IHS Markit Buys Dealer Analytics Firm

Forecasting giant IHS Markit has acquired automotiveMastermind Inc., which provides consumer behavior analytics and marketing automation software to U.S. car dealerships.

IHS Markit initially will acquire 78% of automotiveMastermind for $392 million, which could increase to $435 million based on the smaller company’s performance. The remaining 22% of automotiveMastermind will be acquired over the next five years, IHS Markit says.

Founded in 2012, automotiveMastermind's cloud-based technology helps dealers predict consumers' automobile-buying behavior. The information is used to automatically create “micro-targeted” customer communications, which the company claims can boost a dealer’s sales and customer retention.  

New York-based automotiveMastermind currently works with dealers representing 15 automotive brands. The company also has a product innovation office in San Francisco,.

The deal increases IHS Markit's presence in the retail space. The company, which has been on a buying spree since IHS purchased CSM Worldwide in 2010, bought R.L. Polk and its Carfax unit in 2013 and added Canada’s CarProof used-car data firm two years ago. IHS merged with London-based Markit Ltd. in 2015 to create the renamed IHS Markit.