Boundary Technologies
Hilco Streambank (“Hilco”) is seeking offers to acquire the intellectual property assets of Boundary Technologies Limited (In Liquidation) (“Boundary” or the “Company”) on behalf of the Liquidator of the Company, Graeme Bain of Johnston Carmichael LLP.
No Longer Accepting Offers
Home invasions are a common crime in the UK and cost the average resident £3,030, as well as additional emotional stress with someone present within the house during 58% of burglaries. [1] Founded in 2018, Boundary developed and manufactured a scalable and easy-to-install home security system that is police accredited, which allows users to feel safe in their own homes without the need for complex and costly security systems.
Designed by an experienced management team, the Boundary smart home security system is the product of several years of development and c. £7.7m in investment. Unlike traditional hard-wired security systems that require expensive installation by a professional electrician, Boundary’s off-the-shelf solutions offer all the benefits of a hard-wired system without costly installation. The Company’s solutions operate wirelessly and are battery-powered, with motion, door and window sensors that communicate with the central hub using Z-wave 700 smart home technology with end-to-end encryption.
Users can choose from one of the Company’s smart home security bundles, depending on the size of their home, or request a quote for a police response alarm system. In addition to the alarm system, Boundary offers a free Lite monthly subscription and a Smart or Pro option for a monthly fee that can be cancelled at any time, offering users the flexibility to switch between plans to suit their needs.
Once installed, Boundary offers a bespoke smart app (the “App”) that is fully customisable to the user’s security system. The App provides additional security and reassurance to users by allowing them to control their security system remotely when they are not at home. The Boundary security system also integrates with other smart devices, including Amazon Alexa, Google Home, Samsung SmartThings and Apple Homekit, allowing users to engage with their alarm systems in several different ways, such as disarming your alarm with your voice via smart speakers.
The global smart home security market was valued at $2.14 billion in 2018 and is estimated to exceed $5 billion by 2025. [2] With less than 50% of homes across the UK having a security system installed and burglaries on the rise across the country the need for smart security solutions has never been greater. This opportunity offers a prospective buyer the chance to acquire an innovative and market-ready home security system and the supporting intellectual property and business assets to capitalise on the growing demand for preventative burglary solutions across the UK and beyond.
The Boundary Brand
The attractive Boundary brand was established to tackle issues with traditional security solutions, disrupt the home security market and distinguish itself from its competitors with its certified and scalable home security system.
Confidence in the brand is certain through several rounds of investment and receiving £1.5m from Skycanner’s CEO, Gareth Williams, recognising that the brand is en route to leading the security industry.
The Boundary brand is highly respected amongst customers, receiving a rating of 4.2/5 on Trustpilot and a rating of 4.7/5 on Reviews.io.
The brand has been publicised by various media outlets and key industry sources, including Mighty Gadget, Trusted Reviews and Stuff.tv.
Trade Marks
The Company holds several registered trade marks in relation to the “Boundary” brand and product name, covering alarms and security systems.
A full trade mark schedule is available via a virtual data room.
The Boundary Platform
Developed in-house by industry experts, Boundary is an innovative, scalable platform (the “Platform”) built on a proprietary, industry-certified hardware stack.
The Platform comprises back-end applications to support and run the system including an Alarm Transmission System built to BS EN 50136 standards, a portal to allow field engineers and support staff access to enable system installs and ongoing support/maintenance duties, and applications to integrate with common IoT services such as Amazon Alexa, Google Home and IFTTT.
The Company’s Platform is available to acquire.
Boundary Hardware
Developed from the ground-up in-house, in conjunction with external contractors, the boundary hardware comprises a central hub running bespoke firmware on Linux, utilising the Silicon Labs Z-Wave Sub Ghz wireless technology. The hardware also includes PIR and magnetic contact sensors, as well as an external siren all also utilising the Z-Wave wireless technology. All hardware products have been designed to meet BS EN 50131 Grade II standards.
The Boundary App
Developed in-house, the Company’s elegant App gives users total control of their home security, with the ability to arm and disarm their systems from any location, activate “night mode”, and provide alerts to remind users to turn on the alarm when they leave the house. The App is available across several platforms, including IOS and Android.
The Company’s App is available to acquire.
Patent
A registered patent protects the Company’s threat-detection outdoor camera and is available to acquire.
Boundary was in the process of developing this product and planned to commercialise its creation prior to Liquidation.
Domain Names & Website Content
The Company holds a portfolio of Boundary-related domain names, including the primary boundary.co.uk domain name, which hosts the Company’s attractive and professionally designed e-commerce website. A full domain name schedule is available via a virtual data room.
The Company owns the copyright in the website content hosted at the Company’s primary domain name.
Social Media Accounts
Rights in the social media accounts are also available to acquire across Facebook, Instagram, Twitter, LinkedIn and YouTube.
Customer Data
The Company holds a database of c. 1,600 customers who are currently subscribed to one of Boundary’s monthly plans.
Business and Inventory Assets
Computer equipment and stock are available to acquire.
All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.
The Liquidator acts as an agent of the Company and without personal liability.
The bidder acknowledges that Hilco acts as an agent for the Liquidator who offers for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Liquidator and bidders are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply. Hilco Streambank’s full Terms and Conditions apply.
