LOS ANGELES, Jan. 12, 2017 /PRNewswire/ -- B. Riley & Co.,
LLC, a full-service independent investment bank and a wholly-owned
subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), served
as the exclusive financial advisor to Autobytel Inc. in connection
with the sale of its automotive specialty finance
leads product to privately-held online media and software
services organization, Internet Brands, Inc.
Autobytel is a provider of high quality consumer leads and
associated marketing services to automotive dealers and
manufacturers throughout the United
States. B. Riley assisted in structuring and
negotiating the transaction on behalf of Autobytel. The B.
Riley deal team was led by Managing Directors, Michael
Lowell and Adam Little, and
Vice President, Grant Hustedt.
"The B. Riley team worked diligently in advising us over the
course of this corporate sale process while structuring a favorable
outcome for all parties involved. We are exceptionally pleased with
the results of this process," said Jeff
Coats, President and CEO of Autobytel. "This divestiture
will enable us to further dedicate time and resources to our
fastest-growing business initiatives – our core vehicle lead and
click products."
About Autobytel Inc.
Autobytel Inc. provides high quality consumer leads and
associated marketing services to automotive dealers and
manufacturers throughout the United
States. The company also provides consumers with robust and
original online automotive content to help them make informed
car-buying decisions. The company pioneered the
automotive Internet in 1995 with its flagship
website www.autobytel.com and has since helped tens of
millions of automotive consumers research vehicles; connected
thousands of dealers nationwide with motivated car buyers; and has
helped every major automaker market its brand online.
About B. Riley & Co.
B. Riley & Co.,
LLC is a leading investment bank which provides corporate
finance, research, and sales & trading to corporate,
institutional and high net worth individual clients. The firm is
nationally recognized for its highly ranked proprietary equity
research. B. Riley & Co., LLC is a member
of FINRA and SIPC.
B. Riley Financial, Inc. (NASDAQ: RILY) is a publicly
traded, diversified financial services company which takes a
collaborative approach to the capital raising and financial
advisory needs of public and private companies and high net worth
individuals. The company also makes proprietary investments in
other businesses where B. Riley Financial, Inc. is
uniquely positioned to leverage its expertise and assets in order
to maximize value. The Company operates through several
wholly-owned subsidiaries, including B. Riley & Co.,
LLC (www.brileyco.com), Great American Group,
LLC (www.greatamerican.com), Great American Capital
Partners (www.gacapitalpartners.com) and B. Riley
Capital Management, LLC (which includes B. Riley Asset
Management and B. Riley Wealth Management,
(www.brileywealth.com). Since the acquisition of United
Online, Inc. (www.untd.com) in July 2016, B. Riley
Financial, Inc. also provides internet access services under
the NetZero and Juno brands.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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SOURCE B. Riley & Co., LLC