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Transactions

Apr. 24, 2001

Paul Hastings: INTERNET RIVALS MERGE FOR DEAL VALUED AT $14 MILLION

Autobytel.com Inc. will buy rival Autoweb.com Inc. The stock deal is worth more than $14 million. Irvine's Autobytel is an Internet car-shopping service. Potential car buyers complete an online request form for a new or used car. The form is forwarded to a local dealer, who contacts the shopper within 24 hours with a "no-haggle" price. The company also offers Web-based direct-buying, online car auctions, and financing and insurance.

        Autobytel.com Inc. will buy rival Autoweb.com Inc. The stock deal is worth more than $14 million.
        Irvine's Autobytel is an Internet car-shopping service. Potential car buyers complete an online request form for a new or used car. The form is forwarded to a local dealer, who contacts the shopper within 24 hours with a "no-haggle" price. The company also offers Web-based direct-b...

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