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.