KELLEY BLUE BOOK TO ACQUIRE
DEALER TECHNOLOGY COMPANY, CDMDATA
Car Dealers to Reap Numerous Financial Benefits from Deal
LAS VEGAS, NADA CONVENTION BOOTH # 4321, January 31, 2004 - Today,
Kelley Blue Book announces that it will acquire Minneapolis based
dealer services and solutions companies CDMdata and CDM Dealer Services™.
The deal, expected to close on March 1, 2004, brings Irvine, Calif.,
based Kelley Blue Book the most sophisticated online and offline
vehicle marketing products and services today. As part of the agreement
CDMdata and CDM Dealer Services will retain separate management
and offices in Minneapolis.
Established in 2001, CDMdata and CDM Dealer Services offer the most
accurate and efficient vehicle management and marketing products
and services on the market today. Currently called the DigitalLot™
Solution, dealers, auction houses, fleet organizations and media
giants have the ability to manage and market vehicles faster and
more accurately, generating a greater amount of sales in shorter
periods of time.
"This is a highly strategic acquisition and a complementary
business to Kelley Blue Book," said Paul Johnson, president
and publisher of Kelley Blue Book. "The addition of CDMdata's
advanced hardware and software solutions complete our existing portfolio
of dealer products including PriceLink(SM), KARPOWER®, Blue
Book Classifieds™ powered by Cars.com and local Dealer Advertising."
This acquisition is part of Kelley Blue Book's ongoing commitment
to serve the dealer community. The company plans to increase its
dealer offering in coming years through the development of additional
products and services that meet the growing needs of the industry.
"The strength of the Kelley Blue Book brand in the automotive
industry is unparalleled," said Jack Brandom, CEO of CDMdata.
"By combining our advanced technology with Kelley Blue Book's
trusted brand, we will take online and offline vehicle marketing
to the next level without question."
Kelley Blue Book, CDMdata and CDM Dealer Services are privately
held companies. The terms of the deal are undisclosed.
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Kelley Blue Book is the most trusted vehicle information resource
by both consumers and the auto industry. The company provides research
tools and up-to-date pricing on thousands of new and used vehicles,
including the company's New Car Blue Book Value, which reveals what
a new car is actually selling for. Since 1926, car buyers and sellers
have relied upon Kelley Blue Book for authoritative and unbiased
information to make well-informed automotive decisions. The company
reports vehicle prices and values via products and services including
the famous Blue Book Official Guide(tm), software and Internet site.
Blue Book has been rated the No. 1 automotive information site
by Nielsen//NetRatings as well as No. 1 and first visited automotive
site by J.D. Power and Associates six years running. No other medium
reaches more in-market car-buyers than Kelley
Blue Book , one in every four American car-buyers complete their
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