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(Alliance News) - Frontier IP Group PLC on Tuesday said it has added plagiarism detection firm Elute Intelligence Holdings Ltd to its portfolio.
The asset management company, focused on commercialising university intellectual property, said it is taking a 43% stake in Elute. Frontier IP will earn in the stake by providing commercialisation services, no cash has been paid, the company explained.
Frontier IP said: "The company is developing novel software tools to intelligently search complex documents, such as patents and contracts, and to detect evidence of plagiarism, collusion and copyright infringement.
"Elute is being formed from an existing UK business, CFL Software Ltd and will also include complementary intellectual property developed by Frontier IP."
CFL's current customers include the Universities & Colleges Admissions Service, or UCAS. The UK higher education admissions company is using the software to detect plagiarism in university applications.
Frontier IP's Commercialisation Chief Matthew White said: "CFL Software's technology has many exciting possibilities and applications. We are very much looking forward to working with Peter and David to take it to the next level. Elute is another example of how our direct, hands-on can help our partners realise the potential of their technology."
Shares in Frontier IP were untraded in London on Tuesday afternoon, last quoted at 57.38 pence each.
By Eric Cunha; ericcunha@alliancenews.com
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