IHS Acquires Canadian Vehicle Data Company, CarProof

IHS Inc. (NYSE:IHS), a leading provider of vehicle data, has acquired CARPROOF Corporation®, a Canada-based company that offers products and services in vehicle history, appraisal and valuation for the automotive industry, for $650 million CND (approximately $460 million USD).

Founded in 2000, CARPROOF is the industry standard in Canada for providing automotive vehicle history reports to dealers, auto auctions, original equipment manufacturers, lenders, insurers, governments, law enforcement agencies and consumers.

In July 2013, IHS acquired CARFAX, the leading vehicle history expert for used car buyers, sellers and the automotive industry in the U.S.

Jerre Stead, chairman and chief executive officer of IHS, said: “Like CARFAX, CARPROOF is a high-growth business and gives IHS the opportunity to expand our vehicle history report services into Canada. By combining the capabilities of CARPROOF and CARFAX, we also will accelerate product development to better serve the needs of our customers.”

CARPROOF (www.carproof.com) employs more than 130 people and is headquartered in London, Ontario, Canada.

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