UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an Open Innovation services company, is pleased to disclose that it assisted Artilium plc (LSE-AIM:ARTA), a European leader in advanced telecommunications software, with its recently announced acquisition of Trisent Communications Limited, a specialist in Location-Based Services. This acquisition has provided Artilium with Trisent’s technology which enables mobile network operators to deliver services to subscribing customers based on the geographic location of their mobile phones.

Trisent’s Tri-Cell Intelligent Location System, offers real-time tracking service like GPS, but does not use satellites or require equipment to be installed on the network. The technology works by using standard phone handsets and offers several advantages over GPS, including significant cost savings, lower battery requirements, increased indoor coverage (an advantage for social networking) and ‘always on’ status.

“We are enthusiastic about the potential for this technology and we were pleased with the assistance that UTEK provided, enabling us to rapidly locate and evaluate this advanced technology,” said Chris Ogle, Chief Financial Officer at Artilium.

"UTEK is pleased to have assisted Artilium with this technology acquisition subject to our technology acquisition alliance," said Roxanne Engel, Ph.D. Manager of Technology Licensing at UTEK Corporation.

Through its technology acquisition alliances, UTEK assists companies with the acquisition of proprietary intellectual capital from universities, companies and laboratory research centers.

About Artilium plc

Artilium develops software in the heart of the telecoms network. ARTA, the company’s IMS-compliant service delivery platform, first converges and then intelligently controls networks to enable fast, efficient deployment and monetization of innovative, differentiated mobile unified communications solutions for operators.

Founded in 1995 and recognized for its engineering talent and unique combination of IT and telecom expertise, Artilium has completed more than 40 installations serving tens of millions of end-users in 11 countries. The company is a Microsoft Gold-Certified Partner. For more information about Artilium, please visit its website at www.artilium.com.

About UTEK Corporation

UTEK® is a leading Open Innovation service company. UTEK’s services enable clients to become stronger innovators, rapidly source externally developed technologies and create value from 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.

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 Artilium plc "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Artilium plc’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 Artilium plc, 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 Artilium plc 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 Artilium plc 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.