[September 09, 2004] UTEK Corporation and Cove Partners LLC Announce Strategic Alliance PLANT CITY, Fla. & SAN DIEGO --(Business Wire)-- Sept. 9, 2004 -- UTEK Corporation (AMEX:UTK) and Cove Partners LLC, a boutique investment banking and strategic advisory firm, announced today that they have formed a strategic alliance to assist Cove Partners' clients in identifying technologies available for transfer from universities and federal laboratories. According to Diana Clark, Managing Director with Cove Partners, "Through the use of UTEK's technology outsourcing expertise, we can increase our ability to aid our corporate clients' in developing their technology based businesses." "UTEK is optimally positioned to strengthen the core technologies of Cove Partners' client companies by providing a unique value added service to their current advisory offerings," commented Douglas Schaedler, Chief Operating Officer of UTEK. About Cove Partners LLC Cove Partners LLC is a boutique investment banking and strategic advisory firm located in San Diego, California. Since its founding in January of 1996, Cove Partners has provided services to approximately 70 clients, both public and private, ranging in size from start-up to mature companies with annual revenues in excess of $500 million. The firm is primarily focused on both middle-market private companies with annual revenues of up to $100 million, and publicly-held companies with market capitalizations of up to $250 million across a wide variety of industries. For more information about Cove Partners LLC, please visit its website at http://www.covepartners.com. About UTEK Corporation UTEK is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories. UTEK is the only company that facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities, while allowing research institutions to receive 100% of the royalties. This unique process is called U2B(R). UTEK seeks to transfer proprietary technologies to create product differentiation, resulting in a strategic marketplace advantage. For more information about UTEK, please visit its website at http://www.utekcorp.com. Forward-Looking Statements Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK'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 UTEK, as appropriate, and the market valuation of UTEK stock, which could cause actual results to differ materially from those currently anticipated. Although UTEK believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, UTEK cannot give any assurance that its expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and UTEK does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. UTEK's operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK's dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK's future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK's filing with the Securities and Exchange Commission. [ Back To TMCnet.com's Homepage ]