Editor's note: The CEO of Autobytel was misidentified in an earlier version of this story.
Autobytel Inc. acquired online search company AutoWeb Inc., the online automotive lead provider said today, expanding its capabilities in directing consumers to dealer and automaker websites.
Autobytel, which had previously owned about 15 percent of AutoWeb, acquired the Miami company in an all-stock and warrant transaction. AutoWeb was founded in 2013.
“The addition of AutoWeb should dramatically strengthen our position as a technology leader in the online automotive industry,” Autobytel CEO Jeff Coats said in a statement.
AutoWeb’s pay-per-click bidding platform delivers in-market car shoppers to dealer and automaker websites. Integrating Autobytel’s lead generation and customer acquisition processes with AutoWeb’s advanced analytics platform, the company said in a release, is expected to further improve the delivery of in-market consumers to dealers and automakers.