Automotive marketplace and consumer information web site AutoTrader.com is acquiring Kelley Blue Book, the new- and used-vehicle information business. As part of the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata and CDM Dealer Services.
Details of the transaction are not being disclosed. Kelley Blue Book will operate as a subsidiary of AutoTrader.com and continue to be headquartered in Irvine, CA. The deal is expected to close by the end of the year. J.P. Morgan acted as Kelley Blue Book’s exclusive financial advisor through this process. Goldman, Sachs & Co. acted as financial advisor to AutoTrader.com.
“AutoTrader.com is excited about becoming the new owner of Kelley Blue Book because we believe the company has a great future,” said AutoTrader.com President and CEO, Chip Perry. “Kelley Blue Book has a wonderful history as an iconic brand and trusted provider of vehicle information to generations of car buyers and sellers, and as we look into the future we believe together we can bring a host of new technologies and tools to market that will significantly improve the car shopping process for consumers, and help auto dealers and manufacturers better capitalize on the fundamental efficiency advantages of the Internet.”
USA, Atlanta, GA & Irvine, CA
- AutoTrader.com acquires vAuto Posted on October 18, 2010
- Cox Enterprises sells 25% of AutoTrader.com to Providence Equity Partners Posted on May 5, 2010