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Autobytel Gives Up On Sale; Explores "Strategic Alternatives"

This story was written by Tameka Kee.
Online auto site Autobytel has taken itself off the block. The Irvine, Calif.-based auto sales and lead generation company tapped RBC Capital Markets to help evaluate the merits of a possible sale last September, but has since decided that such a deal wouldn't net shareholders enough value given the state of the market.

At the time, CEO Jim Riesenbach said there were "various third parties" interested in acquiring Autobytel; it's not clear whether there were potential deals that fell through. The company will continue to evaluate other "strategic alternatives" with RBC. Release.


By Tameka Kee