Enhanced Services Will Acquire Zulu-Tek

Enhanced Services Co. will buy the assets of Zulu-Tek Inc., the world’s leading interactive advertising sales and marketing company, for about $30.2 million as it seeks a competitive edge in the growing Internet marketplace. Houston-based Enhanced Services, a maker of peripherals for portable computers, will pay about $24.2 million in stock and assume $6 million in debt, valuing the transaction at about 58 cents for each share of El Segundo-based Zulu-Tek. The acquisition is expected to be completed this week. Enhanced Services stock will consist of 5.2 million common shares valued about $12.2 million, and redeemable preferred shares valued at $12 million. In Nasdaq small-cap trading, Enhanced Services shares rose 3 cents to close at $2.38, and Zulu-Tek’s shares closed at 24 cents in over-the-counter trading.