A UK-based IP-broking portal has been snapped up by the leading international IP trader, NASDAQ and AIM quoted UTEK Corporation, in a company sale handled by international divestiture specialists Shield Corporate Finance
Shield Corporate Finance, who have UK offices in London and Poole, managed a competitive auction process which sees Pharmalicensing Ltd (PLL), a subsidiary of Bridgehead International Ltd, acquired by one of the leading US technology transfer firms, UTEK Corporation. York-based PLL is a leading open innovation resource for partnering, licensing and business development within the life science and biopharmaceutical industry. The acquisition will enhance UTEK's European presence, and PLL's platform will be loaded with a richer flow of IP opportunities, for the mutual benefit of both parties' clients.
Bridgehead's Chairman David Alcraft said, "In the sale of this subsidiary Shield delivered an excellent result. This disposal enables us to concentrate on moving our core business forward and ensures a bright future for PLL."
Commenting on the deal, Clifford M. Gross, UTEK's Chief Executive Officer stated:
"We believe that the acquisition of PLL fits our strategy of becoming the leading provider of Open Innovation services and expands our existing operations within the UK market. We look forward to the opportunity to integrate and grow the business with UTEK's unique technology transfer capabilities."
Shield's Ed Hunter Smart said, "Competition really does work wonders; it's great to see a seller getting what he deserves for a business as a result of buyers having to dip into their synergy pockets to win an auction process."
Shield's David Young said, "This deal again proves that it's a mistake to underestimate the value of a non-core business. Value is in the eye of the beholder, and engaging the best buyers is the key to sale success."
Shield Corporate Finance provides a unique combination of corporate finance and consultancy support, all designed to maximise value achieved when shareholders exit. Shield differentiates itself through its dedication to the pursuit of remarkable results for those selling a business. Shield was founded by David Young in 2001, David is a former Head of Sell-Side M&A, Europe at JPMorgan. Further information about Shield Corporate Finance can be found at
Further information on PLL can be found at http://pharmalicensing.com
Further information on UTEK Corporation can be found at http://www.utekcorp.com