LOS ANGELES, Jan. 12, 2017
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