S&P International Mobility final week mentioned it acquired Market Scan Data Techniques Inc., of Camarillo, Calif., to bolster its shopper choices.
Market Scan aggregates U.S. automobile pricing and incentive information. Greater than 10,000 U.S. dealerships, principally new-vehicle shops, use the corporate’s cost calculation software referred to as Automotive Funds as a Service, which offers exact automobile pricing.
S&P International Mobility, a Southfield, Mich., division of S&P International, offers automakers and suppliers with information and analytics.
KPMG Company Finance, RL Frey Inc. and MW Juron Automotive Consulting have been Market Scan’s consultants for the deal. The acquisition worth for the transaction introduced Feb. 16 and different monetary phrases of the deal weren’t disclosed.
Rusty West based Market Scan in 1988 along with his father, Russell, and was CEO of the corporate. He’ll stay with the enterprise as strategic adviser for S&P International Mobility. He’ll help the combination of Market Scan into S&P, together with new product improvement and methods to help the auto trade, particularly within the digital retail sector.
Market Scan’s estimated 90 staff additionally will switch to S&P.
“It was powerful for me to think about even doing one thing like this as a result of it has been in my household for over three a long time,” West instructed Automotive Information, noting he is been in talks with S&P for greater than a yr. “The tradition at S&P may be very very similar to the tradition at Market Scan and so they have been very clear that every one the members of the Market Scan household can be welcome and really nicely taken care of and that was what we have been in search of.”
S&P mentioned Market Scan will complement its information choices.
“One of many huge alternatives that we now have to deliver Market Scan to the fullest is to essentially leverage their information belongings and strengthen our services that we offer to OEMs throughout the nation,” Dave Mondragon, managing director of pricing and incentive options for S&P International Mobility, instructed Automotive Information.
S&P’s information and insights embody which prospects are available in the market for brand spanking new autos in addition to when and why they’re trying, he mentioned.
“What we didn’t have earlier than [Market Scan] is detailed info on automobile pricing and that is actually a core competency that fills out our portfolio,” Mondragon mentioned.
This automobile pricing info will assist S&P advise purchasers on buyer loyalty, retention and conquest enterprise, Mondragon mentioned.
It additionally will present which prospects most certainly will migrate to any product inside an automaker portfolio, which is very key with new merchandise reminiscent of EVs, he mentioned.
“The way forward for the enterprise will concentrate on buyer advertising with particular buyer incentives down the highway curated and personalised for each buyer,” Mondragon mentioned.
