XIO Group Completes Acquisition of J.D. Power

XIO Group, the London-based equity group, has completed its $1.1 billion acquisition of California market researcher J.D. Power. The deal was announced in April.

XIO bought the company from McGraw Hill Financial Inc., which acquired J.D. Power in 2005. XIO outbid Boston-based Advent International Corp., for the company, which McGraw Hill has been shopping since October.

The new owner says it aims to expand Power into new high-growth markets. Power employs more than 700 people at 16 locations in the Americas, Europe and Asia Pacific. The company is expected to generate about $350 million in revenue this year.