Oct 26 (Reuters) - Online automotive advertising company Autotrader.com may announce on Tuesday its acquisition of car pricing service Kelley Blue Book for more than $500 million, the Wall Street Journal said.
Autotrader.com expects to garner more industry advertising dollars by the acquisition, the paper said.
Under the deal, AutoTrader.com will also acquire Kelley Blue Book’s sister companies CDMdata, which provides hardware and software for the auto industry, and CDM Dealer Services, which offers inventory-management software, the Journal said.
AutoTrader.com expects to close the deal by the end of the year, the paper said.
Neither Autotrader.com nor Kelley Blue Book could immediately be reached by Reuters outside regular U.S. business hours. (Reporting by Anand Basu in Bangalore; Editing by David Cowell)
Our Standards: The Thomson Reuters Trust Principles.