J.D. Power’s forecasting unit acquired by British consulting firm

J.D. Power’s forecasting unit acquired by British consulting firm
Danielle Emerson
Automotive News | November 2, 2011 – 4:07 pm EST
UPDATED: 11/2/11 4:58 pm ET

DETROIT — LMC Automotive, an arm of British consulting firm LMC Group, is acquiring the automotive forecasting division of J.D. Power and Associates.

Terms of the deal, which is effective immediately, were not disclosed in a Tuesday press release.

About 35 J.D. Power employees will now work for LMC, said John Humphrey, senior vice president of global automotive operations for JDPA.

“For quite a long time, since the mid ’90s, there’s been a working relationship with J.D. Power to develop and work on and sell forecasting products,” said Jeff Schuster, formerly the head of automotive forecasting for J.D. Power, now the senior vice president of forecasting for LMC.

“That led to an acquisition where J.D. Power acquired the European forecasting business back in 2004, so it’s basically going back to LMC as a whole unit.

“The rationale from the LMC side of it was to focus on the automotive forecasting business and develop additional new products,” Schuster said. As a result of the acquisition, Schuster said all of the forecasting staff formerly of J.D. Power is now a part of LMC.

“We’re also going to be looking at expanding the staff both here in the U.S. as well as internationally,” he said.

All of Power’s forecasting-related business, said Schuster, will now be part of LMC Automotive.

“The key to this deal is the strategic alliance that goes along with it,” Humphrey said. “(LMC) will now have the rights to commercially sell the data. They purchased that, so now all the sales and production forecasts previously produced under JD Power, they have that. In the alliance agreement, we still have the rights to use that in conferences and presentations and so on.”

According to its press release, LMC Automotive provides market intelligence, analysis and advice to clients who include most of the major organizations around the world involved with agribusiness, commodities, foods, industrial materials, biofuels and their end-markets. It is based in Oxford, England.

“We look forward to concentrating on our goal of aligning our products to meet the ever-changing needs of this dynamic industry and providing the best automotive forecasting and market intelligence services available,” Pete Kelly, managing director of LMC Automotive, said in a statement.

PRESS RELEASE: LMC Automotive Acquires Automotive Forecasting Division from J.D. Power

Strategic Alliance between the Two Companies Ensures Existing Relationship Remains Strong

OXFORD, England, Nov. 1, 2011 /PRNewswire via COMTEX/ — LMC Automotive today announced that it has acquired the automotive forecasting division from long-time alliance partner J.D. Power and Associates, a business unit of The McGraw-Hill Companies.

Terms of the acquisition, which is effective immediately, were not disclosed.

“We are very excited about this acquisition, which will allow LMC Automotive to build upon our strong analytical forecasting presence,” said Pete Kelly, Managing Director of LMC Automotive. “We look forward to concentrating on our goal of aligning our products to meet the ever-changing needs of this dynamic industry and providing the best automotive forecasting and market intelligence services available.”

LMC and J.D. Power began working together in the area of automotive forecasting and market intelligence in the mid-1990s. Today, in addition to data sharing and collaborating at conferences and events, the ongoing alliance will result not only in continuity of services, but also new product opportunities in the context of the increased focus each company can now achieve.

“The ongoing alliance with LMC will allow J.D. Power to intensify its focus and investment in automotive research and retail market insights via the Power Information Network, while leveraging its working relationship with an experienced and very capable automotive forecasting organisation,” said John Humphrey, Senior Vice President of global automotive operations at J.D. Power and Associates. “Today’s agreement ensures our two companies will continue to complement each other’s automotive products and services.”

About LMC

LMC Automotive is part of the LMC group. LMC is the global leader in economic and business consultancy for the agribusiness sector. Founded in 1980, it is privately owned and headquartered in the UK, with further offices in the USA, Singapore, Hong Kong and Kuala Lumpur and a partner office in Brazil.

LMC provides market intelligence, analysis and advice to clients who include most of the major organisations around the world involved with agricultural commodities, foods, industrial materials, biofuels and their end-markets. Through its work on rubber and tyres, the company made an organic move into the automotive industry, launching its first service in 1992.

PRINTED FROM: http://www.autonews.com/apps/pbcs.dll/article?

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