Tuesday, October 1, 2013
Autobytel Buys Automotive Mobile Marketing Company
Irvine-based online auto information and leads site Autobytel has expanded into the mobile communications market, with the acquisition of Advanced Mobile, LLC, a provider of mobile apps, mobile websites, text messaging, and other mobile communications services for automotive manufacturers and dealers. Autobytel said it would pay $2.5M in cash, plus up to $1.5M in earn out based on revenues and profits for Advanced Mobile. Advanced Mobile was founded in 2006. Autobytel said it will use Advanced Mobile to offer manufacturers and dealers a way to communicate with consumers using text communications and mobile apps. Autobytel was advised by B. Riley & Co., LLC in the deal. Advanced Mobile was based in King of Prussia, Pennsylvania.