Autobytel Inc., an Irvine, Calif., automotive marketing services company, is changing its name and ticker symbol as part of operational moves aimed at rebranding itself in the digital automotive arena.
Autobytel will become AutoWeb, and the company's stock ticker symbol will switch to "AUTO" from "ABTL" starting Oct. 9.
"We believe the rebranding and name change to AutoWeb, Inc. better aligns with our operations and corporate strategy, particularly as we look to further expand our Internet leads and clicks businesses," Autobytel CEO Jeffrey Coats said in a statement.
In October 2015, Autobytel acquired AutoWeb, a pay-per-click bidding platform that sends in-market shoppers to dealers and automaker sites. The all-stock and warrant transaction joined AutoWeb's analytics platform with Autobytel's customer acquisition processes, strengthening Autobytel's position in the online automotive industry.