Polk Acquires AIC® Price and Specification Business from Autobytel
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Industry-leading data strengthens Polk's global offering, Autobytel Internet strategy
SOUTHFIELD, Mich., Feb. 1 -- Autobytel Inc. (NASDAQ:ABTL) and R. L. Polk & Co. today announced Polk has purchased Automotive Information Center (AIC)®, the price and specification business of Autobytel.
Through this acquisition, Polk will strengthen its platform for growth within the price and specification sector by adding key North American market planning information to its expanding global network of resources. Under the terms of the deal, Autobytel received license to use AIC data with its Internet business, including consumer sites such as Autobytel.com, Autoweb.com, CarSmart.com, and Car.com.
Autobytel announced recently that it was exploring strategic alternatives for AIC as part of the company's continuing focus on its Internet and media centric strategy. In addition, this investment is a strategic building block that will expand Polk's customer offerings worldwide and build on the company's industry-leading data analysis capabilities.
"This acquisition will provide significant value to our customers on a global scale," said Stephen Polk, chairman, president and CEO of R. L. Polk & Co. "As we integrate AIC's business into Polk, we will leverage other core assets to change the way customers perceive and use price and specification information in their business."
"This transaction enables us to reinforce our focus on our core business of developing new and innovative ways to deliver value and solutions that help our customers tap into the power of the Internet," added Autobytel President and CEO Jim Riesenbach. "We will continue to leverage AIC data on our sites and are pleased that R. L. Polk & Co. has recognized the extent to which automotive manufacturers, dealers and consumers rely on AIC for objective, extensive and accurate car data."
Following the acquisition and integration of AIC's price and specification business, Polk customers will ultimately have access to an innovative market- planning product that changes the way automakers view and use this information. Once complete, Polk will offer solutions to customers that allow them to comprehensively assess the global automotive market.
"We are excited about being able to offer our customers this new level of market intelligence," said Polk. "As established providers of automotive information and marketing solutions, Polk is now moving toward offering the global automotive industry a centralized source for valuable vehicle comparison and data tools."
About Autobytel Inc.
Autobytel Inc. (NASDAQ:ABTL) is one of the largest online automotive marketplaces, empowering consumers to make smart vehicle choices using objective automotive data and insightful interactive editorial content. The result is a convenient car-buying process backed by a nationwide network of dealers who are committed to providing a positive consumer experience. Every day consumers choose Autobytel-owned and operated websites -- Autobytel.com, Autoweb.com, CarSmart.com, Car.com, AutoSite.com, Autoahorros.com, and CarTV.com -- to facilitate their car-shopping decisions. Autobytel's ability to attract millions of highly qualified, in-market car buyers and connect them with retailers has made it a leader in facilitating the entire customer car- buying lifecycle.
The Company's innovative marketing, advertising and CRM products, including its Web Control® customer management system, Retention Performance Marketing (RPM®) service reminder program and Special Finance LeadsSM are designed to enable dealers to offer a premium consumer experience. Since pioneering pro-consumer online automotive content and purchasing in 1995, Autobytel has helped more than twenty-seven million car buyers, generating billions of dollars in car sales for dealers.
About R. L. Polk & Co.
R. L. Polk & Co. is the premier provider of automotive information and marketing solutions. Polk collects and interprets global data, and provides extensive automotive business expertise to help customers understand their market position, identify trends, build brand loyalty, conquest new business and gain a competitive advantage. Polk helps automotive manufacturers and dealers, automotive aftermarket companies, finance and insurance companies, advertising agencies, media companies, consulting organizations, government agencies and market research firms make good business decisions. A privately held global firm, Polk is based in Southfield, Mich. with operations in Australia, Canada, China, France, Germany, Japan, Spain, Thailand, the United Kingdom and the United States. For more information, please visit www.polk.com.
Source: R. L. Polk & Co.
CONTACT:
Melanie Webber of Autobytel Inc., +1-949-862-3023, or melaniew@autobytel.com;
or Emily Drake for R. L. Polk & Co., +1-248-362-4200, ext. 226, or edrake@baileypr.com
