R.L. Polk & Co., owner of the used-car shopping tool Carfax, is said to be putting itself up for sale, but no deal is made as yet.
Are there implications for dealers with possible sale of R.L. Polk?
If a deal is reached, the family-owned provider of automotive data for car companies and consumers would change hands for the first time in about 140 years. The company could decide not to make a sale.
Polk could fetch around $1 billion in a sale, a person familiar with the matter estimated. On Thursday the company’s board met to discuss the sale, and Polk recently informed employees of the process, the person said.
The company’s operations go beyond Carfax. Polk provides research, forecasting and consulting for the global auto industry. In the U.S., Polk gathers registration data from every state and provides detailed statistics on the types of cars people buy.
That registration data could make Polk attractive to other auto-research services, such as J.D. Power & Associates Inc. and Autodata parent CarsDirect.com Inc.
Carfax is Polk’s best-known consumer brand. For a fee, it provides the accident and damage history of individual vehicles.