XIO Group, a London-based investment firm, said late Friday it had agreed to buy consultant J. D. Power from McGraw Hill Financial Inc. for $1.1 billion. The deal is expected to close in the third quarter, XIO Group said. XIO will "support" J. D. Power's current management team in expanding to other markets, particularly "fast-growing Asian markets," the company said. The deal was the first for XIO in the U.S. following acquisitions of companies based in Germany and Israel last year. Shares of McGraw Hill were flat in late trading Friday after ending the regular trading session down 0.3%.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.