Bid Deadline: February 19, 2025
NEW YORK, Jan. 23, 2025 /PRNewswire/ — Hilco Streambank announced it is seeking offers to acquire the patents, proprietary software, domain names, and trademarks of edge computing and infrastructure as a services (IaaS) technology company StackPath.
The deadline for submission of binding bids is February 19, 2025.
Founded in 2015 by the founders of SoftLayer Technologies (acquired by IBM in 2013), StackPath is a cloud computing platform that provides IaaS with a focus on advanced edge computing technologies. StackPath propelled its capabilities, customer base, and competitive positioning through numerous strategic acquisitions.
The company generated $79 million in revenue in FY23. The edge computing segment alone generated $33 million in revenue from September 2023 through June 2024. Despite this commercial success, StackPath still faced industry-wide headwinds that hindered efforts to scale, as well as unavailing capital markets, all of which led to its need to file an assignment for the benefit of creditors.
Hilco Streambank Senior Vice President and head of patent advisory solutions, Karl Maersch, commented, “We see a tremendous amount of growth potential in the global edge computing market. Some studies suggest the current $16 billion market will grow at a CAGR of 36.9% through 2030. The advanced StackPath technology is the product of nearly a decade and $400 million of investment, development, and M&A activity, representing a substantial opportunity for a strategic operator or investor to jumpstart or bolster an existing edge computing business.” Regarding the company’s IP, Maersch continued, “Strategics and patent buyers alike should pay particular attention to the patent portfolio available in this acquisition opportunity. The existing patent portfolio shows strong metrics for both defensive and offensive patent positioning, including multiple patents that have formed the basis for numerous forward patent application rejections by some of the largest tech companies in the space.”
Click here for additional information. Interested parties may contact Hilco Streambank directly at Project+Stack@HilcoGlobal.com.
The sale is being conducted on behalf of StackPath ABC, LLC, as assignee for the benefit of creditors of StackPath TopCo BR, LLC and related debtor subsidiaries and affiliates, pursuant to the petition, StackPath Management, Inc., et al. v. StackPath ABC, LLC, Case No. 2024-0647, filed before the Delaware Superior Court of Chancery.
| Karl Maersch SVP | Jordon Parker VP | Adam Snyder Sr. Patent Analyst | Paul Gleason Analyst |
Hilco Streambank expressly disclaims any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from this document or any other written or oral communication transmitted or made available to prospective purchasers. Any and all representations and warranties regarding the information described herein shall be only as negotiated and set forth in a definitive purchase agreement. Any prospective purchaser acknowledges its responsibility to perform a due diligence review prior to consummating a transaction involving the Company. Any materials or information provided, whether written or oral, do not constitute an offer or solicitation of an offer of any kind to buy or sell shares or any other securities described herein in any jurisdiction.
About DSI Assignments
DSI Assignments specializes in providing experienced assignees to help businesses navigate financial distress. Operating within state laws, our team ensures transparent communication with creditors, manages stakeholder expectations, and negotiates with lenders and investors toward the maximal outcome. Led by Steven L. Victor and Matthew P. Sorenson, recognized experts in restructuring, bankruptcy, and assignments for the benefit of creditors (ABCs), DSI tailors each engagement to the unique needs of the business. ABCs offer an efficient alternative to bankruptcy, and our professionals are dedicated to maximizing value and creditor recoveries for stakeholders, including secured lenders, private equity and venture capital firms, principal of the distressed business, and boards of directors.
About Hilco Streambank: Hilco Streambank is a market-leading advisory firm specializing in intellectual property valuation, advisory, and monetization. Having completed numerous transactions, including sales in publicly reported transactions, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, technology, and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization, and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate, and strategic capital equity investments.
SOURCE Hilco Streambank