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CC transcript
Appointed director
Asset disposition
AutoWeb, Inc. (AUTO)
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Alert
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Filings
Date Filed
Type
Description
01/05/2017
8-K
Asset disposition
Docs:
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Autobytel Completes Sale of Specialty Finance Leads Product to Internet Brands IRVINE, California – January 3, 2017 – Autobytel Inc. , a pioneer and leading provider of digital automotive services connecting in-market car buyers with dealers and OEMs, has completed the sale of its specialty finance leads product to Internet Brands, Inc. Total consideration includes $3.2 million of cash as well as additional transition licensing income totaling $1.6 million over a five-year period. SFL revenue in 2016 is expected to be $6.4 million with $0.5 million of contribution to operating income. In 2015, SFL revenue and operating income contribution was $6.5 million and $0.5 million, respectively. With the sale, Autobytel will dedicate further resources to its fastest-growing core vehic...
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