Financing Lead Sales From Autobytel Sold To Internet Brands.
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LOS ANGELES, Jan. 12, 2017 -- B. Riley & Co., LLC, a full-service independent investment bank and a wholly-owned subsidiary of B. Riley Financial, Inc. , served as the exclusive financial advisor to Autobytel Inc. in connection with the sale of its automotive specialty finance leads product to privately-held online media and software services organization, Internet Brands, Inc.
Autobytel is a provider of high quality consumer leads and associated marketing services to automotive dealers and manufacturers throughout the United States. B. Riley assisted in structuring and negotiating the transaction on behalf of Autobytel. The B. Riley deal team was led by Managing Directors, Michael Lowell and Adam Little, and Vice President, Grant Hustedt.
"The B. Riley team worked diligently in advising us over the course of this corporate sale process while structuring a favorable outcome for all parties involved. We are exceptionally pleased with the results of this process," said Jeff Coats, President and CEO of Autobytel. "This divestiture will enable us to further dedicate time and resources to our fastest-growing business initiatives – our core vehicle lead and click products."