Tuesday, January 14, 2014
Autobytel Buys AutoUSA
Irvine-based online automotive information and lead generation site Autobytel said Monday afternoon that it has acquired AutoUSA, the web-based auto leads and service provider owned by AutoNation. According to Autobytel, it paid $10.0M in cash, plus $1M in a 6% convertible note for AutoUSA. Autobytel said the acquisition would help it expand its dealer network and increase revenue and cash flow. As part of the acquisition, AutoUSA President Phil DuPree has joined Autobytel as EVP and President of Dealer Services.