TAMPA, Fla. & KENNEWICK, WA /BUSINESS WIRE/ -- UTEK Corp., a specialty finance company focused on technology transfer, and Manakoa Services Corp., a company focused on global security technology products, are pleased to announce that Manakoa Services Corp. has acquired Infinite Identification Technologies Inc., a subsidiary of UTEK Corp., in a stock transaction.
Infinite Identification Technologies Inc. possesses a worldwide exclusive license for a reflective wireless technology for radio frequency identification (RFID) and remote sensor applications. The technology was originally developed by a federal research laboratory for the Department of Defense for covert communication operations and is now declassified. It is designed to use modulated-reflectance technology to enhance radio frequency identification tracking systems and sensors.
"This technology could potentially eliminate the need for a microchip or battery in RFID tags," said Paul Reep, President of Manakoa Services. He added, "All parts of this new RFID and antennae can be printed with conductive inks, potentially reducing the costs per tag compared with other RFID tags on the market today. We believe this technology could help address the need for cost-effective tracking and monitoring of products."
"UTEK is pleased to consummate this technology transfer with Manakoa Services Corporation," said Joel Edelson, Vice President of Technology Licensing at UTEK Corporation.
About Manakoa Services Corp.
Manakoa is a development-stage company with the mission to become a leader in global security technology products to detect and interdict criminal activity in counterfeiting, product diversion, and intellectual-property theft. Manakoa seeks to market a variety of technologies that it owns, licenses, or resells, providing a technology menu that addresses a wide range of needs in the marketplace. For more information about Manakoa Services Corp., please visit the company's Web site.
About UTEK Corp.
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, analyze, and manage university intellectual properties. UTEK is a business development company with operations in the U.S., U.K., and Israel. For more information about UTEK, please visit the company's Web site.