Thursday, April 8, 2004

Autobytel Acquires iDriveonline

Irvine-based Autobytel (www.autobytel.com) announced that it is acquiring iDriveonline, a provider of customer loyalty and retention marketing programs in the automotive industry. The deal is worth $11.7M in cash and stock. Autobytel stated that it expects that the combined Autobytel and iDriveonline products should contribute to $15M in revenue this year.