#USA #New York #Edge Computing #StackPath #Hilco Streambank

Hilco Streambank Facilitates Sale of StackPath's Assets

Hilco Streambank has initiated a sale process for the intangible assets of StackPath, a prominent player in edge computing and infrastructure as a service (IaaS) technology sector. The sale includes a range of valuable intellectual property assets such as patents, proprietary software, domain names, and trademarks. The deadline for submitting binding bids is set for February 19, 2025.

Founded in 2015 by the creators of SoftLayer Technologies, which was acquired by IBM in 2013, StackPath has rapidly established itself as a leading cloud computing platform. With a particular emphasis on edge computing technologies, StackPath has expanded its reach and capabilities primarily through strategic acquisitions. In its most recent fiscal year, the company reported revenues of $79 million, with the edge computing segment alone contributing $33 million from September 2023 to June 2024.

Despite its financial achievements, StackPath has encountered various challenges within the industry that hindered its scaling efforts. Notably, the financial environment and an unyielding capital market landscape led the company to file for an assignment for the benefit of creditors. This situation has prompted Hilco Streambank to oversee the sale, hoping to find a buyer interested in leveraging the company's sophisticated technology and robust patent portfolio.

Karl Maersch, Senior Vice President at Hilco Streambank and head of patent advisory solutions, emphasized the boundless growth potential within the global edge computing market. Some market predictions anticipate a stunning compound annual growth rate (CAGR) of 36.9% through 2030, suggesting that the current $16 billion market is poised for substantial expansion. The advanced technologies developed by StackPath represent nearly a decade of investments, totaling around $400 million, making this acquisition an enticing prospect for interested investors aiming to jumpstart or enhance their edge computing initiatives.

Maersch pointed out that the patent portfolio available for acquisition is particularly noteworthy. It possesses measurable strengths for both defensive and offensive strategies, showcasing several patents that have already challenged applications from major tech companies. As these assets come to market, they are expected to attract interest from strategic buyers and patent investors who appreciate the potential for strong positioning.

The sale process is being managed on behalf of StackPath ABC, LLC, as the assignee for the benefit of creditors associated with StackPath TopCo BR, LLC and its affiliates. Relevant legal proceedings are registered under the case name StackPath Management, Inc., et al. v. StackPath ABC, LLC, Case No. 2024-0647, presented at the Delaware Superior Court of Chancery.

Interested parties looking to explore this lucrative opportunity are encouraged to reach out to Hilco Streambank. This sale reflects a strategic maneuver at a crucial juncture for both the buyer and the transitioning technological landscape, as the demand for edge computing services continues to surge.

In conclusion, the sale of StackPath's intangible assets represents not just a financial transaction, but a strategic opportunity in a booming market. As businesses increasingly seek scalable and efficient solutions in edge computing, the resulting interest in these assets is likely to grow, making this a pivotal moment in the industry.