Kelley Blue Book to Acquire Dealer Technology Company, CDMdata
On Jan. 31, Kelley Blue Book announced that it will acquire Minneapolis-based dealer services and solutions companies CDMdata and CDM Dealer Services(TM). The deal, expected to close on March 1, 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(TM) 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(TM) 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.
Kelley Blue Book, CDMdata, and CDM Dealer Services are privately held companies. The terms of the deal are undisclosed.