Autobytel (ABTL) - Buy Autos online Message Board

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Technology Stocks : Autobytel (ABTL) - Buy Autos online

ABTL 7.020

+0.3%

Oct 6 4:00 PM EDT

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To: Bill Ounce who wrote (588)	4/12/2001 10:43:59 AM
From: Bill Ounce	Read Replies (2) of 594

Autobytel to merge with AutoWeb usatoday.com Autobytel, Autoweb merge in drive for online profits By Earle Eldridge, USA TODAY The two biggest Internet car-buying sites, both struggling to make money, agreed to merge Wednesday in a move that analysts say may accelerate the departure of their smaller competitors. Autobytel.com and Autoweb.com will merge in a tax-free stock swap that analysts estimate is valued at $15 million. The deal is expected to be completed in the third quarter. The combined company, which will be called Autobytel, will trade on the Nasdaq exchange under Autobytel's existing stock symbol, ABTL. Both sites will continue to operate. [...] The two sites have close to 10,000 dealers paying them fees for their services. Because of overlap, they expect the combined company to have about 7,000 dealers signed up when the merger is completed. [...]

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