Carproof Corp. of London, Ont., has been bought by IHS Inc., which owns Carfax, an American rival offering similar services, for $650 million (US $460 million).
Carproof provides automotive vehicle history reports to car dealers, manufacturers, auto auctions, OEMs, lenders,insurers, governments, law-enforcement agencies and the public in general.
Recognized as one of Canada's bestmanaged companies, Carproof has appeared regularly on Deloitte's Technology Fast 500 and Fast 50 lists.
Carproof was conceived by current board chairman Paul Antony 15 years ago. Back then, even with a background in the car business (his father and grandfather ran a dealership and wholesale auto exporting business in Ingersoll, Ont.) Antony was the unwitting victim in a wholesale deal involving vehicles traced to a stolen car ring in Quebec.
From that experience, he developed a cross-Canada lien search on used-vehicle ownership and other vital history.
With its newest acquisition, plus the 2013 addition of Polk and Carfax, IHS says its automotive group can provide comprehensive content, expertise and predictive insight across the entire automotive value chain.
Like its Carfax counterpart in the United States, Carproof says it will continue to operate independently in Canada, keeping its name, and possibly add to its 130 employee count.