Online automotive marketplace AutoTrader has purchased Kelley Blue Book and its sister companies CDMdata and CDM Dealer Services for an undisclosed sum.

AutoTrader President and CEO Chip Perry had this to say about the deal:

“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.”

Kelley Blue Book’s current leadership team will remain in place under this deal.

KBB President and CEO Paul Johnson believes that being under AutoTrader’s ownership will help the company accelerate growth in the vehicle valuation and consumer car-shopping spaces.

Source: Ward’s Auto