IHS closes on acquisition of R.L. Polk & Co.

ENGLEWOOD, Colo. (AP) -- Business information and analytics firm IHS has completed its $1.4 billion acquisition of R.L. Polk & Co., the owner of the popular Carfax service. The deal was announced last month. IHS is making R.L. Polk & Co. part of its automotive segment. Southfield, Mich.-based R.L. Polk & Co. collects global auto sales, registration and other data and sells it to automakers and parts companies. Its Carfax service compiles vehicle history reports that include title changes and damage from crashes. The company was founded by Ralph Lane Polk in 1870, as publisher of city directories. Polk began publishing automotive industry statistics in the early 1920s at the request of General Motors president Alfred P. Sloan, according to the R.L. Polk & Co. website. IHS president and CEO Scott Key said in a statement on Tuesday that IHS plans to broaden Polk and Carfax's reach, as IHS already has an existing presence in markets in Brazil, India, Russia, the Asia-Pacific region and Europe, the Middle East and Africa. IHS Inc., which is based in Englewood, Colo., provides information to businesses and governments in more than 165 countries. Its shares finished at $111.09 on Monday. Published: Wed, Jul 17, 2013