Autotrader.com announced on Wednesday that it is buying the country’s best known source for information about car pricing, Kelley Blue Book Co. The value of the deal was not disclosed, but the Financial Times reported in September that bankers involved in the transaction estimated Kelly Blue Book to be worth between $500 million and $1 billion.
Kelley Blue Book, which has become practically a bible for new and used car buyers since its founding in 1926, will operate as a subsidiary; its president and executive staff will remain with the company. Autotrader, a leading online hub for auto sales, also acquired Kelley sister companies CDMdata and CDM Dealer Services, which offer hardware and software for the auto industry.
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