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Online car-buying site's shares rev up more than 30 percent on purchase of Bay Area rival

2015-05-23 19:47:54| Auto Dealers - Topix.net

Shares of Irvine-based Autobytel jumped more than 30 percent in late trading Friday on news the company bought Redwood City-based Dealix , which provides sales leads to auto makers and their dealers and operates UsedCars.com Autobytel expects the $25 million purchase of Dealix from owner CDK Global will contribute to its bottom line this year. Autobytel is a microcap stock, with a market cap of just $179 million.

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Category:Automotive

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