UTEK Completes Technology Transfer to Liberty Diversified Holdings, Inc.

IPTI contains a license for a variable image packaging film that can potentially double the viewable surface area of packaging products by allowing the film to transmit two separate images.

22/09/06 UTEK Corporation a specialty finance company focused on technology transfer, and Liberty Diversified Holdings, Inc., a holding company in the printing and packaging industry, announced that Liberty Diversified Holdings, Inc. has acquired Innovative Packaging Technologies, Inc. (IPTI), a wholly owned subsidiary of UTEK Corporation, in a stock transaction.

IPTI contains two licenses for technologies developed by researchers at the University of Arkansas. The first technology is an all-natural, edible antimicrobial packaging film, which has been designed to protect consumers against common food-borne illnesses caused by pathogens such as Salmonella and E. coli. In addition IPTI contains a license for a variable image packaging film that can potentially double the viewable surface area of packaging products by allowing the film to transmit two separate images. A change in the perceived image is accomplished using a series of lenticular lenses to compress areas of an original image and refract them at a specified angular range, achieving a ‘flash’ effect for customers traveling past the products.

Ronald Touchard, Chief Executive Officer of Liberty Diversified Holdings, Inc., said, “We are enthusiastic about completing the acquisition of Innovative Packing Technologies, Inc. We believe the novel technologies that IPTI contains, combined with a newly planned aggressive marketing approach for MCR and other possible acquisitions in the packing industry will allow us to expand market share at a much faster pace than previously possible.”

"UTEK is pleased to consummate this technology transfer with Liberty Diversified Holdings, Inc. and we look forward to continuing our efforts to provide additional technology acquisition opportunities for their consideration," said Jennifer Willis, Manager of Technology Licensing at UTEK Corporation.