Kelley Blue Book, society so intertwined with assessment of cars and trucks for buyers and sellers it became part of the vernacular American has been sold.
AutoTrader.com has announced that it has an agreement to acquire Kelley Blue Book (and two sister companies, CDMdata and CDM Dealer Services) list.it a press release, AutoTrader.com stated that the agreement should close at the end of the year.
"The future lies before us is full of potential," said Paul Johnson, Kelley Blue book's President and Chief Executive in a statement. "We are proud of the trade mark Kelley Blue Book and our many achievements in the last 84 years."
Kelley Blue Book was founded in 1926, when Les Kelley, engineer, build a dealer car and printed foil Prize to circulate with dealerships prêteurs.Autres requested list, and Kelley it sold by subscription for $15 per année.Kelley, took his retirement in the 1960s and the company has ceased to sell cars, according to a story in The Times, 1996. Cook in Los Angeles family bought the guide price and the Kelleys was hired to run the company.
In 1995, Kelley Blue Book launched its website, kbb.com.
"The Internet has become a channel marketing primary automobile dealers and manufacturers reach and influence consumers to the vehicle purchase processes, said Chip Perry, President and CEO of AutoTrader.com.""We believe that our two companies are well positioned in this highly competitive to assist the industry environment to adopt and to adopt new tools and technologies that will result in higher levels of efficiency and profitability among distributors and manufacturers for the next decade".
AutoTrader.com said that Mr. Johnson and his management team remains in place and Kelley Blue Book will remain in his headquarters in Irvine, California and operate as a subsidiary of AutoTrader.com.
So, what is the value of the blue book of the blue book?
AutoTrader.com doesn't have to say, even if an early assessment of the company by a banker quoted in a story by the Financial Times September is 500 million to $1 billion.The Wall Street Journal has reiterated that approximate Monday, calling the agreement a "$ 500 megalopolis acquisition."
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