Tag Archive for: AutoWeb

AutoWeb Announces Definitive A – GuruFocus.com

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TAMPA, Fla., July 25, 2022 (GLOBE NEWSWIRE) — AutoWeb, Inc. ( AUTO) (“AutoWeb” or the “Company”), an automotive matchmaking platform connecting in-market car shoppers to their preferred vehicle transactions, announced that it has entered into a definitive merger agreement to be acquired by a subsidiary (the “Purchaser”) of One Planet Group, LLC (“One Planet Group”), under which the Purchaser will pay a cash purchase price of $0.39 per share of AutoWeb. Payam Zamani, One Planet Group’s CEO, will assume the role of President and CEO of AutoWeb, Inc., and Jared Rowe will transition out of the business.

“Not many founders get the opportunity to return to a company that they helped create. AutoWeb has been a pioneer in the online automotive industry and in many ways directly influenced its evolution,” stated Payam Zamani, CEO of One Planet Group. “It is now time for the company to experience an evolution to prepare for the challenges and the opportunities in the automotive industry of tomorrow.”

The acquisition, which has been approved by the Company’s Board of Directors, based on the recommendation of a Special Committee of the Board consisting of independent, disinterested directors, is structured as a two-step merger, with the first step being a tender offer for all issued and outstanding shares of AutoWeb by the Purchaser and the second step being a merger in which any shares of AutoWeb that were not tendered in the tender offer would be converted into the right to receive the same cash price per share as stockholders who tendered in the tender offer. The factors considered by the Special Committee and the Board are further described in the Current Report on Form 8-K filed by the Company on the date of this release. The parties have agreed to commence the tender offer by August 1, 2022.

The closing of the tender offer and acquisition are subject to customary closing conditions and other terms and conditions detailed in the merger agreement. The merger is expected to close by September 16, 2022.

The Company is represented in this transaction by its financial advisor, Houlihan Lokey, and its legal counsel, Gibson Dunn & Crutcher LLP. One Planet Group is…

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AutoWeb Case Study Demonstrates Significant Dealership Sales Growth by Integrating High-Quality Leads and Well-Defined Processes Nasdaq:AUTO

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TAMPA, Fla., Dec. 17, 2020 (GLOBE NEWSWIRE) — AutoWeb, Inc. (Nasdaq: AUTO), a robust digital marketing platform providing digital advertising solutions for automotive dealers and OEMs, announced the availability of its recent case study with the Platinum Group and Homer Skelton Ford, two dealer customers of the company who have experienced robust sales growth by combining AutoWeb’s high-quality leads with Dealer Synergy’s customer relationship management (CRM) processes. The full case study, available at www.autoweb.com/dealers/dealer-corner/news, outlines how the Platinum Group, a franchise Mitsubishi store and two independent stores, increased total group sales by 75 percent and internet sales 528 percent in 16 short weeks, while Homer Skelton Ford, a leading franchise dealership, increased internet sales 90 percent.

With the automotive industry more volatile than ever, dealerships require high-volume, high-quality customer engagement opportunities coupled with a strategic follow-up program in order to thrive in today’s market. As the case study with the Platinum Group and Homer Skelton Ford demonstrates, when dealerships focus on integrating quality leads with an exceptional process, they can achieve incredible sales growth quickly and easily.

“Since we invented automotive internet leads back in 1995, AutoWeb has been matching consumers with our partner dealers for an efficient and cost-effective buying process that helps them boost revenue and achieve their sales goals,” said Cory Nacke, senior director of sales effectiveness at AutoWeb. “Despite the market shifts we have experienced, we have effectively pivoted to align our solutions and approach to the specific needs of dealers and OEMs. We are excited to share our successes in this case study and demonstrate what achievements are possible with the right lead formula and effective sales follow-up.”

AutoWeb has held a long-standing relationship with Dealer Synergy, an automotive training, consulting, CRM, accountability and recruiting firm headed by Sean V. Bradley, a 22-year industry veteran, international trainer, author and speaker. Dealers and OEMs using AutoWeb’s leads program, combined with a…

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