Featured Company News - IHS Acquires automotiveMastermind; Set to Expand Analytics Service Offerings in the Automotive Industry
Research Desk Line-up: Cintas Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 28, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for IHS Markit Ltd (NASDAQ: INFO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=INFO. The Company announced on September 26, 2017, the acquisition of automotiveMastermind Inc., the leading provider of predictive analysis and marketing automation software for the automation industry. Currently, automotiveMastermind works with dealers across 15 automotive brands, and is headquartered in New York City, with a product innovation hub in San Francisco. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Announcement
According to IHR Markit, the automotiveMastermind acquisition opens up a key new market and increases the Company's presence in the vehicle retail space. It is also an excellent strategic fit, and within its entire portfolio, it would help to fill out the existing offerings by leveraging predictive analytics to enhance buyer experience. The Company now delivers unparalleled insight and analytics across the automotive lifecycle, from vehicle strategy and product planning to vehicle sales, marketing, and repair.
Founded in 2012, automotiveMastermind offers US automotive dealers, behavior prediction analytics software and marketing solutions that improve the vehicle purchase process and results. The Company's cloud-based strategy helps dealers precisely predict automobile-buying behavior and automate the creation of micro-targeted customer communications, delivering higher sales, and consistent customer retention.
IHR Markit, through its core automotive assets, including CARFAX, delivers global automotive customers a comprehensive suite of information services and analytics. The addition of automotiveMastermind expands the Company's capabilities and enables it to deliver a powerful set of tools, including data aggregation and analytics-driven by machine learning, to help OEMs and automotive dealers to sell cars more efficiently.
IHS Markit acquired about 78% of automotiveMastermind for a purchase price of about $392 million, which can be increased potentially up to $435 million, subject to underlying business performance. IHS Markit will acquire the remaining 22% of the shares over the next 5 years based on the valuation tied to underlying business performance.
Company Growth Prospects
IHS Markit is a leading critical information, analytics, and expertise provider for major industries and markets that drive the economies of nations. The Company has more than 50,000 key business and government customers, including 85% of the Fortune Global 500 and the world's leading financial institutions.
Prior to the announcement, on September 26, 2017, the Company declared its Q3 FY17 results for the 3-month period ended August 31, 2017. IHS Markit reported revenues of $905 million, including total organic revenue growth of 5% and normalized organic revenue growth of 4%. The Company reported positive organic revenue growth and margin expansion and made progress towards merger synergy and buyback commitments. For the full-year FY17 ending November 30, 2017, the Company expects revenues to be in the range of $3.490 billion to $3.560 billion, including the total organic growth of 3% to 4%, while adjusted EPS is expected to be in the band of $2.02 to $2.08 per diluted share.
Last Close Stock Review
On Wednesday, September 27, 2017, the stock closed the trading session at $43.96, slightly down 0.36% from its previous closing price of $44.12. A total volume of 7.00 million shares have exchanged hands, which was higher than the 3-month average volume of 2.28 million shares. IHS Markit's stock price surged 5.88% in the past six months and 23.34% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 24.15%. The stock is trading at a PE ratio of 86.54. At Wednesday's closing price, the stock's net capitalization stands at $17.45 billion.
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