IHS says it has acquired CARPROOF Corp., a Canada-based company that offers products and services in vehicle history, appraisal and valuation for the automotive industry, for C$650 million ($460 million).

Founded in 2000, CARPROOF provides automotive vehicle history reports to dealers, auto auctions, original equipment manufacturers, lenders, insurers, governments, law enforcement agencies and consumers. The company has appeared on Deloitte’s Technology Fast 500 and Fast 50 lists.

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

Jerre Stead, chairman and CEO of IHS, says, “Like CARFAX, CARPROOF is a high-growth business and gives IHS the opportunity to expand our vehicle history report services into Canada. This acquisition will add a highly accretive revenue-growth and EBITDA-margin business for IHS, and provide significant room for further growth.”

CARPROOF employs more than 130 people and is based in London, Ontario, Canada.