SOUTHFIELD, MI — R. L. Polk & Co. has purchased Automotive Information Center (AIC), the price and specification business of Autobytel.
Through this acquisition, Polk plans to strengthen its platform for growth within the price and specification sector by adding key North American market planning information to its expanding global network of resources. Under the terms of the deal, Autobytel received license to use AIC data with its Internet business, including consumer sites such as Autobytel.com, Autoweb.com, CarSmart.com, and Car.com. In addition, this investment is a strategic building block that will expand Polk’s customer offerings worldwide and build on the company’s industry-leading data analysis capabilities, said the company.
"This acquisition will provide significant value to our customers on a global scale," said Stephen Polk, chairman, president and CEO of R. L. Polk & Co. "As we integrate AIC’s business into Polk, we will leverage other core assets to change the way customers perceive and use price and specification information in their business."
Autobytel announced recently that it was exploring strategic alternatives for AIC as part of the company’s continuing focus on its Internet and media centric strategy.
"This transaction enables us to reinforce our focus on our core business of developing new and innovative ways to deliver value and solutions that help our customers tap into the power of the Internet," added Autobytel President and CEO Jim Riesenbach. "We will continue to leverage AIC data on our sites and are pleased that R. L. Polk & Co. has recognized the extent to which automotive manufacturers, dealers and consumers rely on AIC for objective, extensive and accurate car data."
Following the acquisition and integration of AIC’s price and specification business, Polk customers will ultimately have access to an innovative market-planning product that changes the way automakers view and use this information. Once complete, Polk will offer solutions to customers that allow them to comprehensively assess the global automotive market.
"We are excited about being able to offer our customers this new level of market intelligence," said Polk. "As established providers of automotive information and marketing solutions, Polk is now moving toward offering the global automotive industry a centralized source for valuable vehicle comparison and data tools."
For more information about Autobytel, visit: http://www.autobytel.com
For more information, about Polk, visit: http://www.polk.com.
