Autobytel Inc., the Internet-based car buying service, of has completed its purchase of iDriveonline Inc., a Houston-based provider of customer loyalty and retention marketing programs, for about $11.7 million in cash and stock.
Irvine, CA-based Autobytel will keep an operation in Houston, but its size will be determined over the next six months, said CEO Jeffrey Schwartz in a statement. None of iDriveonline’s 30 employees will lose their jobs now, but they may in change in the future, Schwartz said.
Direct Newsline first reported this story on April 7.
Network
