RealTime IT News

Zulu Calls Off Acquisition of BrandsForLess

Los Angeles-based Zulu-tek Inc., an affiliate of Enhanced Services Company Inc. said it is calling off its planned acquisition of BrandsForLess.com (BFL) and instead will pursue its own commerce strategy.

Zulu and its affiliates will remain a significant minority shareholder of BFL and will continue to support the development of BFL's business model, the company said.

"We have decided to direct our e- commerce efforts to supporting major Internet portals and other high-traffic Web sites which have a need for our e-commerce capabilities rather than to focus exclusively on branding BFL as a shopping destination," said Rob Chmiel, a Zulu-tek spokesman. "This strategy allows us to draw on our internal skills, utilize the online advertising and marketing strengths of our affiliate Omni-net.com and to pursue other opportunities."

Chmiel added that Zulu-tek is in active discussions for alliances and initiatives consistent with its expanded independent online shopping strategies and is continuing to pursue a previously announced IPO for its e- commerce business.

"We look forward to a continuing association with the Zulu-tek group as an important shareholder of our company," said George Russell, CEO of BrandsForLess.