ZULU-tek Inc. issued a statement Monday saying it has been “deluged with
calls” regarding a rumor that DoubleClick Inc. is buying ZULU.
ZULU said it intends to maintain its independence and continues to review its
options to list shares on NASDAQ’s national market system or the American
Stock Exchange and expects to retain a major investment banking firm shortly.
DoubleClick went public in an IPO on
Friday. The stock soared, and closed yesterday at $30, up $3.25. DoubleClick
executives could not be reached late Monday for comment on the rumors.
A ZULU spokesman said in a statement: “We acquired SOFTBANK Interactive
Marketing Inc. (SIM) on Dec. 31, 1997 and have since then streamlined
operations and merged ZULU’s echoMEDIA Technology into SIM.”
“ZULU has more advanced technological support than all of its known
competitors, a more diverse business base, the largest sales force, and is
rated by the industry with DoubleClick as the two market leaders in Internet
advertising,” the statement continued.
Revenues for ZULU/SIM combined were $39.0 million for 1997 vs. DoubleClick’s
$30.6 million, ZULU said.