HONG KONG, May 28 /PRNewswire/ -- NetVest Capital Partners L.P. today announced that it has reached an agreement in principle with a group led by China International Equities, Ltd. to divest its partnership interests in Enhanced Services Co., Inc. (Nasdaq: ESVS) as well
as its stake in Zulu-Tek, Inc. (OTC Bulletin Board: ZULU).
"NetVest provided the venture capital support to enable Zulu to acquire EchoMEDIA and Softbank Interactive Marketing, Inc., an industry pioneer in on-line advertising," said Roger Mincheff, president of Enhanced Services. "NetVest also provided the vision to refocus these companies into Zulu. When the planned business combination with Enhanced is complete, the full benefits of NetVest's efforts to lay the foundation to become a major Internet competitor
will be realized."
The combined forces of Zulu and Enhanced Services will provide a range of innovative online services, including e-commerce, Internet advertising and technological services. Zulu-Tek has become one of the few firms in the industry to offer clients in-house services that encompass both marketing acumen and technological capabilities.
The planned merger is subject to regulatory and shareholder approvals, as well as compliance with NASDAQ rules.
SOURCE NetVest
/CONTACT: Mary T. Conway, mconway@mcdermott-oneill.com, or Heather
Midgley, hmidgley@mcdermott-oneill.com, of McDermott/O'Neill & Associates,
888-275-1081/
(ESVS ZULU) |
