2nd Oct 2019 08:25
(Alliance News) - Car marketplace Auto Trader Group PLC on Wednesday said it has acquired software solutions firm KeeResources Ltd for an undisclosed sum.
KeeResources providers data and services to the automotive industry and the FTSE 100 constituent said it has already used the company's platform.
Auto Trader Chief Executive-Designate Nathan Coe said: "KeeResources has been an integral supplier to Auto Trader, as their unique vehicle taxonomy data underpins much of our core platform. Strategically we believe it's important to own and develop such a valuable data source."
In 2018, KeeResources generated revenue of GBP5.5 million and an operating profit of GBP800,000.
Shares in Auto Trader were 0.7% lower at 511.60 pence each in London early on Wednesday morning.
By Eric Cunha; [email protected]
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