Press Release
March 26, 2008
RIM SEMICONDUCTOR COMPANY
ACQUIRES MULTI-CARRIER COMMUNICATIONS, INC. FROM UTEK CORPORATION
Tampa, FL, Portland,
OR & St. Lucia, Australia -- (Business Wire) – March 26, 2008 --
UTEK Corporation (AMEX & LSE-AIM: UTK), an Open Innovation
services company, and Rim Semiconductor Company (OTCBB: RSMI), a
company that develops technology for telecommunications service
providers, are pleased to announce that Rim Semiconductor has
acquired Multi-Carrier Communications, Inc., a wholly owned
subsidiary of UTEK, in a stock transaction.
The acquisition
includes an exclusive worldwide license and research program for
a unique signal processing technology for copper line based
applications. The technology was jointly developed at The
University of Queensland and The University of Sydney.
This technology
transfer which is believed to be the first of its kind involving
Australian electrical engineering academics and a US-based
telecommunications developer was negotiated by UniQuest,
Australia’s largest international commercializer of university
research and expertise, and UTEK Corporation.
"UTEK is pleased to
consummate this technology transfer with Rim Semiconductor,"
said Joel Edelson, Vice President of Technology Licensing at
UTEK Corporation.
Rim Semiconductor’s
Chief Executive Officer, Brad Ketch, said “This acquisition
gives us access to an advanced technology that should enhance
our existing development program. We believe the unique
capabilities of the acquired signal processing algorithm,
combined with our current technology, will mean telephone
companies around the world may soon be able to offer many more
of their customers enhanced video and data services,” Mr Ketch
added.
The technology is a
method and signal processing configuration for reducing high bit
error rates (BER) by limiting the effective
Peak-to-Average-Ratio to about 10% of that which is currently
typical. A high BER is undesirable as it limits the bandwidth of
the transmission system because data must be retransmitted to
compensate for the loss. It achieves this by using a unique form
of signal processing. This “low complexity method” as its name
implies, is inherently less complex than current methods and can
therefore also be performed with limited processing power.
UniQuest’s Managing
Director, David Henderson said “The licensing deal was
significant for the Australian team on several levels. As well
as having provided an additional revenue stream to boost their
work in this area, this licensing agreement has presented the
researchers and the universities of Queensland and Sydney with
an outstanding opportunity to take their innovations to a global
market which may have a positive impact on meeting the
communication needs of millions of people worldwide. We are
proud to be part of the team that has made this happen,” Mr
Henderson said.
Rim Semiconductor’s technical team will seek to develop the
technology further for the benefit of end users who rely on the
performance of copper-based infrastructure to achieve their
communication and business goals.
About Rim
Semiconductor Company
Rim Semiconductor Company develops technology for
telecommunications companies to deliver demanding new video and
data services with
lower network costs. The company’s products allow data to be
transmitted at greater speed and across extended distances over
existing
copper wire — all with the highest quality of service — for a better
end-user experience. For more information about Rim
Semiconductor,
please visit www.rimsemi.com.
About UTEK
Corporation
UTEK® is an open innovation service company. UTEK’s services
enable companies to innovate more rapidly with the acquisition
of externally
developed technologies from universities and research
laboratories worldwide and through the out-licensing of their
intellectual property.
UTEK is a business development company with operations in the
United States, United Kingdom and Israel. For more information
about
UTEK, please visit its website at
www.utekcorp.com.
About UniQuest Pty
Limited
UniQuest is widely recognised as Australia’s largest and most
successful university commercialization group. Established by
The University of Queensland in 1984, UniQuest fosters links
between the University – with its valuable emerging
technologies, expertise and facilities – and the financial and
entrepreneurial resources of industry, business and government.
For more information about UniQuest, please visit its website at
www.uniquest.com.au.
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 or Rim Semiconductor
"expects," "should," "believes," "anticipates" or words of
similar import. Similarly, statements that describe UTEK's or
Rim Semiconductor’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 or Rim Semiconductor, as
appropriate, and the valuation of UTEK's investment portfolio,
which could cause actual results to differ materially from those
currently anticipated. Although UTEK and Rim Semiconductor
believe the expectations reflected in any forward-looking
statements are based on reasonable assumptions, it 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 or Rim Semiconductor do 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 and realized gains and losses of companies in its
portfolio, 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 filings with the Securities and Exchange Commission.
Corporation
Contacts:
UTEK Corporation
USA:
Tania Bernier
813-754-4330 x 223
UK:
Bankside Consultants
Steve Liebmann or Simon Bloomfield
+ 44 (0) 20-7367-8883
Rim Semiconductor
Company
Brad Ketch
503-257-6700
UniQuest Pty Limited
David Israel
+61 733-65-4037
