Business
New portfolio company: Elute Intelligence Holdings
New portfolio company: Elute Intelligence Holdings.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 8235P Frontier IP Group plc 15 October 2019 \n\n15 October 2019\n \nFrontier IP Group Plc\n(\"Frontier IP\" or the \"Group\")\n \n \nPortfolio news - new portfolio company Elute Intelligence Holdings\n \nFrontier IP, a specialist in commercialising university intellectual property, today announces it is taking a 43% equity stake in Elute Intelligence Holdings Limited (\"Elute\" or the \"Company\"). 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. \n \nElute is being formed from an existing UK business, CFL Software Limited (\"CFL\"), and will also include complementary intellectual property (\"IP\") developed by Frontier IP. In addition to the IP, the Group will also earn its equity by providing a range of commercialisation services, such as facilitating scale up and direct, hands-on support for technical development through its in-house development capability. No cash consideration has been paid by the Group for its equity stake in Elute. \n \nThe Company will build on CFL's current software technology to improve user experience and develop new applications for different markets. \n \nThe technology, based on computational forensic linguistics, compares and analyses documents to identify similarities between them by mimicking the way people read. It has been developed by CFL's founder David Woolls, an expert in forensic linguistics, who will continue to work for Elute. CFL's business development director Peter Fischer is joining the Elute board alongside Matthew White, Frontier IP's Chief Commercialisation Officer. \n \nPeter has more than 20 years' experience in knowledge-intensive software solutions. He has formerly worked for Thomson Reuters and was EMEA regional director for US patent-translation company MultiLing. \n \nCurrent CFL customers include the Universities and Colleges Admissions Service (\"UCAS\"), which is using a version of the software called Copycatch to detect plagiarism in students' personal statements. Others include academic institutions, commercial researchers and lawyers. \n \nPeter Fischer, Director of Elute Intelligence Holdings, said: \"CFL Software is already a leader i...