IHS Inc. has acquired Carproof Corporation for $650 million CND (approximately $460 million USD).
More details on the acquisition will be provided on the IHS fourth quarter and year-end 2015 earnings call on January 12, 2016.
In July 2013, IHS acquired Carfax, the leading vehicle history expert for used car buyers, sellers and the automotive industry in the U.S.
“Like Carfax, Carproof is a high-growth business and gives IHS the opportunity to expand our vehicle history report services into Canada,” said Jerre Stead, chairman and chief executive officer of IHS. “By combining the capabilities of Carproof and Carfax, we also will accelerate product development to better serve the needs of our customers. This acquisition will add a highly accretive revenue-growth and EBITDA-margin business for IHS, and provide significant room for further growth.”