Daqri, LLC retained Hilco Streambank to market and sell its intellectual property assets, namely its augmented reality (“AR”) patent portfolio consisting of over 175 patents and patent applications, as well as related trademarks and domain names. Hilco Streambank was assisted by Rock Creek Advisors.
Daqri built a well-respected name in the AR space by developing and providing professional-grade AR solutions for over 120 corporate clients across many markets and industries. Daqri’s two primary product lines were the head-worn hardware (DAQRI Smart Glasses) and the software platform (DAQRI Worksense), which together linked digital content to the real world to accelerate productivity, communication and key business processes. The DAQRI patent portfolio was comprehensive, protecting a wide range of features and uses on a worldwide basis, including core technologies for AR solutions. The company’s products, which were crafted using the patents as a foundation, were commercialized and deployed in the marketplace.
Hilco Streambank ran a robust marketing process for the portfolio and related assets. Hilco Streambank reached out to over 100 parties and assisted more than 25 interested parties with diligence requests and ultimately solicited expressions of interest from 7 parties. Following a sealed bid auction, Hilco Streambank assisted in closing a sale in June 2020. Deal terms were not disclosed.