from AutoRemarketing.com

IHS Inc. has entered a definitive agreement to buy Carfax parent company R.L. Polk & Co., in a $1.4 billion transaction.

The deal must first go through customary closing conditions, including expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

“The acquisition of R.L. Polk brings extensive and complementary information and analytical solutions that would establish IHS as a vital strategic partner of the global automotive value chain,” said IHS president and chief executive officer Scott Key.

“R.L. Polk has a long history of providing critical information to the automotive industry,” Key said. “The combination with IHS Automotive creates a comprehensive capability that will significantly enhance customers’ insights and decision processes across the full vehicle lifecycle with analytics from product planning through manufacturing, sales and into automotive aftermarkets.”