CDKNet.com retained
Commonwealth Associates, a New York based investment bank, to act as an
adviser in evaluating whether to accept competing offers which have been made
to acquire a controlling interest in the company.
The company, which markets proprietary technology for use in audio, video and
e-business and advertising multi-media projects, said it has been approached
by two different groups of prospective acquirers.
At least one of the prospective purchasers reportedly has offered a
substantial premium per share above the current market price.
“Each of the potential acquirers presents its own special strategic
opportunity in the implementation of the CDK business strategy,” said Steven
A. Horowitz, CEO and president of CDKNet.com. “The company’s board of
directors is evaluating whether accepting any of these offers is in the best
interests of the company’s shareholders. . .”
Names of the suitors were not disclosed.
The company’s trademarked CDK technology is a convergent technology that
combines Internet browser functionality, quality audio and full screen/full
motion video in one platform that has application for the multimedia
marketing, advertising and promotion areas, music and entertainment industry
and music industry special projects business.