Key Developments For Autobytel Inc
Autobytel Inc (ABTL.O) (Consolidated Issue listed on NASDAQ Global Market)
Autobytel, Inc. Expands Reach Of Kelley Blue Book Content, Values Across Autobytel Network; Licenses Distribution Technology For Kelley Blue Book Trusted MarketplaceSM
Autobytel, Inc. and Kelley Blue Book Co., Inc announced an extension of their current agreements to expand the reach of Kelley Blue Book`s vehicle values, pricing and specifications data, and editorial content to the millions of car-buyers who visit Autobytel`s network of Web sites, including autobytel.com, car.com, myride.com, autoweb.com and carsmart.com. A new agreement was also reached under which Autobytel will license its lead distribution technology to Kelley Blue Book for use in its online vehicle classifieds, The Trusted MarketplaceSM, a new online car shopping experience on Kelley Blue Book`s Web site www.kbb.com. Under the new extended terms, Kelley Blue Book will provide Autobytel with additional Blue Book values, vehicle specification data and editorial content, in addition to the used-car Blue Book values already displayed across Autobytel`s various Internet properties. Autobytel will, in turn, license its lead distribution technology to support Kelley Blue Book`s online vehicle classified shopping experience, The Trusted MarketplaceSM.
Autobytel, Inc. Joins With Kelley Blue Book To Extend Reach Into Used Car Market
Autobytel, Inc. announced a new agreement with Kelley Blue Book to further extend the reach of its thousands of member dealers into rapidly growing used car market, the sales of which are projected to outnumber new auto sales by 4-to-1 in 2009.1 Under the new arrangement with Kelley Blue Book, the used vehicle inventory of dealers participating in Autobytel's used car program may be listed in The Trusted Marketplace at www.kbb.com, which attracts millions of used car shoppers every month.
InsWeb Corporation and Autobytel, Inc. Announces Settlement of Multi-Party Patent Litigation
InsWeb Corporation and Autobytel Inc. announced that, along with Internet Brands, Inc. and Leadpoint, Inc., they have entered into a settlement agreement resolving Autobytel's lawsuit filed against InsWeb, Leadpoint and Internet Brands in the U.S. District Court in the Eastern District of Texas, Marshall Division, relating to Autobytel's U.S. Patent Number 6,282,517 for lead technology. The settlement agreement also resolves a patent claim filed by InsWeb, Internet Brands and Leadpoint against Autobytel in the U.S. District Court in the Southern District of California related to InsWeb's U.S. Patent No. 6,898,597 for lead management technology. Under the settlement agreement terms, Autobytel and InsWeb have agreed to grant to the other a non-exclusive perpetual license to their respective patents, as well as long-term covenants not to sue any of the parties for infringement of current or future patents and mutual releases. InsWeb and Autobytel have also entered into an agreement where Autobytel will receive specific auto insurance editorial content, data and interactive tools from InsWeb. The content and tools will contain links to one of InsWeb's insurance websites, and Autobytel and InsWeb will share the revenue associated with consumer activity generated by the links.
Trilogy Enterprises, Inc. Announces Cash Tender Offer For Autobytel, Inc. At $0.35 Net Per Share
Trilogy Enterprises, Inc. announced that its wholly owned subsidiary, Infield Acquisition, Inc., has commenced a tender offer to acquire all of the outstanding shares of common stock of Autobytel Inc. for $0.35 net per share in cash. The tender offer is scheduled to expire at 12:01 A.M., New York City time, on May 19, 2009, unless extended.
Autobytel, Inc. And Edmunds.com Enter Settlement Agreement
Autobytel, Inc. and Edmunds.com, Inc. announced that they have entered into a settlement resolving Edmunds' declaratory judgment action filed against Autobytel in the U.S. District Court for the District of Delaware and relating to Autobytel's U.S. Patent Number 6,282,517 for lead technology (517 Patent). Although the case was recently dismissed by the court, the parties have entered into a settlement to avoid any further proceedings in this matter. According to the settlement, Autobytel has granted to Edmunds a limited license to the 517 Patent and other existing Autobytel leads-related patents in exchange for the right to publish on Autobytel's family of websites a select assortment of Edmunds.com's industry-leading multi-media automotive content, including photos, editorial reviews, and articles. The agreement also provides for mutual releases of claims.
