DETROIT -- The automotive forecasting and analysis firm CSM Worldwide Inc. has been acquired by publicly held rival IHS Inc., IHS announced today.
The $27 million deal creates an industry leader in auto industry forecasting and analysis. IHS' industry information and analysis services will add CSM's 100 automotive analysts in eight countries. About 85 percent of global automakers and suppliers subscribe to CSM, said the statement announcing the deal.
IHS covers industries including aerospace, defense, electronics, telecommunications, construction, energy and automotive. The company posted revenue of about $967.3 million in 2009 and has about 4,200 employees in 30 countries.
“CSM's strengths in the supplier market, production and powertrain analysis and North American and Asian customer markets are highly complementary to IHS strengths in original-equipment manufacturer, sales analysis and European markets,” IHS CEO Jerre Stead said in a statement.
CSM founder and CEO Craig Cather will direct the combined automotive forecasting and analysis operations of CSM and IHS.
It wasn't clear what the acquisition means for CSM's suburban Detroit operations.
Representatives for CSM and IHS were not immediately available for comment today.
IHS, based in suburban Denver, Colo., generated net income of $134.9 million during its fiscal year ending Nov. 30, 2009, compared with net income of $99.0 million during the 2008 fiscal year.
IHS stock closed today at $53.50 on the New York Stock Exchange, down $2.57 or 4.6 percent.