McGraw-Hill Cos. announced Monday it agreed to acquire J.D. Power and Associates, a Westlake Village-based marketing information services organization.
Power, best known for its automotive industry surveys, also surveys the finance and insurance, health care, homebuilding, telecommunications and energy sectors and provides customer satisfaction ratings. Terms of the deal were not disclosed.
The transaction, subject to regulatory review, is expected to close in April. J.D. Power III, the firm's founder, will remain active in the company and Stephen Goodall will continue to serve as president.
J.D. Power, which includes the Power Information Network LLC, has 787 employees in 12 locations around the world. It will maintain its Westlake Village headquarters as well as its other regional offices.
Publishing and information services giant McGraw-Hill, based in New York, has annual sales of about $5.3 billion. Its holdings include Standard & Poor's, BusinessWeek and McGraw-Hill Education.
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