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.