Technology acquisitions can help a variety of industries
With Big Data becoming an increasingly popular term in the business world, it should come as no surprise that more companies are attempting to integrate the idea into daily operations. Firms that specialize in providing Big Data analytics services could find themselves sought after, as more companies could turn toward a technology acquisition to bolster their own offerings.
Such is the case with IHS Inc., a business research and analytics firm that announced this week it will acquire R.L. Polk & Co. for $1.4 billion. The latter company is an automotive information and marketing firm, which, according to the Los Angeles Times, will help IHS in terms of market data, analysis and predictive tools.
IHS president and chief executive Scott Key explained to the Times that the acquisition “brings extensive and complementary information and analytical solutions that would establish IHS as a vital strategic partner of the global automotive value chain.”
He added that having more information available about the automotive industry will improve the life cycle of the car, which has not been able to be done before.
Additionally, Key said that his company has been building itself up in a very strategic and targeted way. For example, IHS made key acquisitions in 2007, 2008 and 2009, one of which involved a company that specialized in providing information, analysis and consulting services to corporations.
R.L. Polk & Co chairman, president and CEO Stephen Polk said in a statement that partnering with IHS will help his business expand the vital role it’s played in the auto industry over the last few years. Stakeholders all across the value chain will benefit from this opportunity, he said.