Goodwin’s Private Equity team advised automotiveMastermind, the leading provider of predictive analytics and marketing automation software for the automotive industry, in its definitive agreement to be acquired by IHS Markit, for a purchase price of approximately $392 million, which can increase up to $435 million tied to underlying business performance. IHS Markit will acquire the remaining 22 percent over the next five years based on valuation tied to underlying business performance.
automotiveMastermind currently provides U.S. automotive dealers with behavior prediction analytics software and marketing solutions that improve the vehicle purchase process and results. The company’s cloud-based technology helps dealers precisely predict automobile-buying behavior and automates the creation of micro-targeted customer communications, leading to proven higher sales and more consistent customer retention.
IHS Markit is a world leader in critical information, analytics and expertise for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions.
The Goodwin team was led by partner Josh Klatzkin and counsel Joseph Bernardi and included partners Kelsey Lemaster, Scott Webster and Joel Lehrer; counsel Sarah Bock, Christina Bouchot, Jacqueline Klosek and Brian Mukherjee; senior attorney Ai Tajima; and associates Chi Pan, Matt Cognetti, Alex Plaum and James Devendorf.
For additional details on the transaction, please read the press release.