UTEK Corporation Announces the Acquisition of PAX Technology Transfer, Ltd.Business Editors PLANT CITY, Fla. & BERKHAMSTED, U.K.--(BUSINESS WIRE)--Oct. 1, 2001 UTEK Corporation (Nasdaq:UTOB) and PAX Technology Transfer, Ltd. announced jointly today that UTEK acquired PAX on September 28, 2001, in a share for share exchange. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Uwe Reischl, Ph.D., M.D., President of UTEK, "We are enthusiastic about this strategic acquisition. PAX is a high quality technology transfer organization that provides us with an experienced base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army in the United Kingdom and will allow us to expand our technology transfer business in Europe." "We are pleased to consummate To carry into completion; to fulfill; to accomplish. A Common-Law Marriage is consummated when the parties live in a manner intended to bring about public recognition of their relationship as Husband and Wife. this merger as it is a logical next step in the growth and development of PAX. We believe that by working together with UTEK we can expand the services which we offer and further enhance our established ability in sourcing new technology acquisition opportunities for our clients," commented John D. Emanuel, Chairman of PAX. PAX Technology Transfer, Ltd. is a 23 year old, international technology transfer company based in Berkhamsted, England. It specializes in conducting global technology searches to find technology-driven business opportunities for corporate clients. UTEK Corporation is a business development company dedicated to building bridges between university-developed technology and commercial organizations utilizing its unique U2BSM BSM Business Service Management BSM Basic Security Module BSM Best Stations Memory (Pioneer car stereos) BSM Business Systems Modernization BSM Bronze Star Medal BSM Black Student Movement BSM Benilde-St. business model. UTEK acquires, licenses and finances the further development of new university technologies for rapidly growing technology companies. These intellectual capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) are then sold to technology companies for an equity stake. With UTEK's U2B U2B Youtube (website) U2B User to Business (SM) model, companies can rapidly grow their technology assets while universities receive 100% of the royalties for each transferred technology. Certain matters discussed in this press release are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "expects," "anticipates" or words of similar import. Similarly, statements that describe the Company's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those currently anticipated. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained at·tain v. at·tained, at·tain·ing, at·tains v.tr. 1. To gain as an objective; achieve: attain a diploma by hard work. 2. . Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . |
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