The secured lender of Secure Channels retained Hilco Streambank to conduct a sale of its collateral, including post-quantum cryptography patents and software, plus associated assets including trademarks, domain name, computer hardware and a license agreement.
Secure Channels offers data encryption, cryptographic protocols, access control, privileged access and user authentication technologies in the form of licensable tools, end-user platforms and purpose-built solutions. It provides software and application developers, hardware OEM and device manufacturers, and enterprise organizations with risk reduction and operational performance benefits. This allows them to replace, augment, or introduce new cryptography into their products or environments, providing material and measurable cybersecurity protections, risk reduction and data breach mitigation.
Hilco Streambank contacted approximately 100 potential buyers, leading interested parties through the process and facilitating diligence calls. The sale to the secured lender closed in April, 2021.