Business information and analytics firm IHS said Monday it will spend $1.4 billion to buy the privately held R.L. Polk, which operates vehicle history report provider Carfax.
IHS said the deal will help it build its stake in the automotive industry. It says Polk's businesses will complement existing IHS Automotive products and open up large adjacent markets.
Polk has about $400 million in annual revenue and also runs a division that provides market data, analysis and tools to help business customers predict and analyze performance.
IHS plans to pay for the deal with equity, cash on hand and debt.
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IHS is based in Engelwood, Colo.