RealTime IT News

Houston Firm Makes $50 Million Investment in ZULU-tek

ZULU-tek reported it received an investment from Enhanced Services Co. Inc., which will allow it to tap into Internet advertising and marketing technology.

Newport, RI-based ZULU-tek, which operates echoMEDIA and has a controlling interest in SOFTBANK Interactive Marketing, said in a statement that a $50 million private placement of convertible preferred shares will begin in mid-March to provide the financial strength to position the group "as the premier Internet solutions provider."

The company reported that combining its Internet advertising technology and sales infrastructure with Houston, TX-based Enhanced Services' technological expertise will help it to provide Internet multimedia solutions. Enhanced Services is a computer services company.