TAMPA, FL, and PALM SPRINGS, CA, July 12, 2007 -- UTEK Corporation, a specialty finance company focused on technology transfer, and American Leak Detection Inc., an environmental services franchise specializing in the non-invasive detection of leaks and water management, today announced the signing of technology acquisition alliance.
"We are pleased to execute this technology acquisition alliance with UTEK," said Stan Berenbaum, Chief Executive Officer of American Leak Detection Inc. "We always seek to offer our customers a new range of products and services."
"We are excited to work with American Leak Detection Inc. in the identification of technology transfer opportunities that align with its strategic vision," commented William R. Porter, Chief Technology Transfer Officer at UTEK Corporation.
Through its technology acquisition alliances, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Technology acquisition alliances are generally cancelable by either party with thirty days advance written notice.
American Leak Detection specializes in the accurate, non-invasive detection of all types of leaks including hidden water and sewer leaks. From swimming pool cracks to concealed plumbing systems, the smallest leak is located with the most advanced, sophisticated electronic devices -- without bashing holes in walls or digging up the deck and yard.
UTEK® is a specialty finance company focused on technology transfer. UTEK's services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search and analyze university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom and Israel.
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