Autobytel has added to its coffers yet again with the purchase of AutoWeb, a company that provides “an auction-based click marketplace” of in-market shoppers to dealers and automakers.
Autobytel, which previously owned about 15 percent of AutoWeb’s outstanding capital stock, purchased the company in an all-stock deal.
Autobytel said in its news release Thursday that it believes blending its own lead-generation and customer-acquisition tools with the analytics platform that AutoWeb brings to the table should “further improve the overall delivery of high-converting, in-market consumers to dealers and OEMs.”
Autobytel president and chief executive officer Jeff Coats said in the release: “The addition of AutoWeb should dramatically strengthen our position as a technology leader in the online automotive industry. AutoWeb's proprietary platform, combined with our cutting-edge analytics and consumer acquisition strategies, will provide even more effective and valuable product offerings.
“These enhanced offerings will help dealers and OEMs better leverage their investments in website properties, especially as dealers increasingly shift advertising budgets from print to digital,” he added.
"This acquisition also brings us a world-class technology development team with proven expertise in the clicks and display ad marketplaces," continued Coats. "In fact, AutoWeb's founders have scaled several online companies in the U.S. and internationally that were sold at significant premiums, including the Inc. 500-listed BrokersWeb and, at the time, one of the largest online ad networks in Latin America, ClickDiario. Their addition to our team, coupled with the synergies from our technology and data methodologies, positions us to capitalize on several different verticals within the growing online automotive industry."
AutoWeb CEO Matías de Tezanos added: "The AutoWeb team is very excited to join a prominent leader and pioneer in the online auto industry. We look forward to providing our technical expertise and advanced methodologies to Autobytel's broad suite of products, while further building on the success of our revolutionary pay-per-click platform."