Press Releases
Autobytel and Dealix Agree to Submit Settlement Terms to Court for Approval
The term sheet is subject to the approval of the United States District Court for the Eastern District of Texas. Should a definitive agreement not be entered into after obtaining Court approval, either party may petition the Court to enforce the term sheet.
Autobytel Inc. Chief Executive Officer James Riesenbach and Dealix Corporation President John Holt said: "We are pleased to announce that both parties to this litigation have amicably reached an agreement in principle to settle the lawsuit."
About Autobytel Inc.
Autobytel Inc. (Nasdaq: ABTL) is one of the largest online automotive marketplaces, empowering consumers to make smart vehicle choices using objective automotive data and insightful interactive editorial content. The result is a convenient car-buying process backed by a nationwide network of dealers who are committed to providing a positive consumer experience. Every day consumers choose Autobytel-owned and operated websites—Autobytel.com, Autoweb.com, CarSmart.com, Car.com, AutoSite.com, Autoahorros.com, and CarTV.com – to facilitate their car-shopping decisions. Autobytel’s ability to attract millions of highly qualified, in-market car buyers and connect them with retailers has made it a leader in facilitating the entire customer car-buying lifecycle.
The Company’s innovative marketing, advertising, data and CRM products, including its Web Control® customer management system, Retention Performance Marketing (RPM®) service reminder program, Special Finance LeadsSM, and AIC® data center, are designed to enable dealers to offer a premium consumer experience. Since pioneering pro-consumer online automotive content and purchasing in 1995, Autobytel has helped more than twenty-seven million car buyers, generating billions of dollars in car sales for dealers.
About Dealix Corporation
Dealix Corporation is a leading provider of automotive Internet sales leads for automobile dealerships, large dealer groups, and automotive manufacturers. We provide one of the most efficient and cost-effective ways for auto retailers to connect with buyers of new and used vehicles in today’s market.
Dealix owns and operates UsedCars.com, one of the industry’s oldest and most respected used car portals, and InvoiceDealers.com, one of the industry's leading new vehicle automotive portals and the largest source of Internet sales leads processed through the Dealix Lead Trading PlatformSM, a suite of proprietary technology products and business solutions.
The Dealix Lead Trading Platform processes leads generated from the millions of monthly visitors who come to our portals and to the Dealix Lead Acquisition NetworkSM, our collection of premier partner Web sites. Dealix delivers thousands of serious vehicle buyers to our customers daily, boosting sales while keeping customer acquisition costs low.
Contact:
Autobytel Inc. Investor Relations
Jennifer Klein, Vice President, Investor Relations, 949.862.1362(jenniferkl@autobytel.com)
Autobytel Inc. Media Relations
Melanie Webber, Vice President, Corporate Communications, 949.862.3023 (melaniew@autobytel.com)
Dealix Corporation
Judith McGarry, Vice President, Marketing, 415.971.2000 (jhmcgarry@sbcglobal.net)
