Auto-By-Tel Corp., an Internet buying service in Irvine, Calif., has entered into an agreement that will expand its international operations into Sweden, Norway, Denmark and Finland.
Auto-By-Tel, which refers online shoppers to dealers for a fee, has given a Sweden-based marketing company rights to the Auto-By-Tel business concept and technology in the Nordic region.
'We believe the Auto-By-Tel concept will be particularly popular in the Nordic region, especially as Internet usage is so well developed there,' says Pete Ellis, president of Auto-By-Tel. Ellis says Internet use is about as high in Scandinavia as it is in the United States.
Bilia AB has agreed to invest $5 million in Auto-By-Tel Corp. It will do business as Auto-By-Tel Nordic and have a majority interest in that operation. The agreement is expected to be final in June.
Auto-By-Tel began its international operations when it set up Auto-By-Tel Canada in May 1996. The company announced an agreement to operate in the United Kingdom at the National Automo-bile Dealers Association convention in February. It expects to kick off Auto-By-Tel U.K. by the end of 1998.