Tuesday, April 21, 2009

Trilogy Looks To Buy Autobytel

Austin-based Trilogy Enterprises, a provider of business services to the automotive industry, announced Tuesday that its wholly owned-subsidiary, Infield Acquisition, is looking to acquire Autobytel. Autobytel is a California firm which operates automotive-related websites which generate leads for automotive dealers. According to Trilogy, it is offering $0.35 net per share in cash for Autobytel. Trilogy said the offer was a 32% premium over the trailing, 30-day average closing price of Autobytel's common stock. trilogy is already a major holder of Autobytel's stock, with approximately 7.4% ownership in the firm.