Hilco is seeking offers to acquire certain intellectual property assets of Scentrics Information Security Technologies Limited (In Administration) (“Scentrics” or the “Company”) on behalf of the Joint Administrators of the Company, Nicola Fisher and Christopher Herron of Herron Fisher.
The overwhelming desire for privacy by consumers, the need for enterprises to comply with increasing regulatory requirements and the global cyber security crisis facing governments today is driving the need for scalable, policy-led privacy solutions for the entire internet population. Founded in 2008 by leading academics in machine learning, cryptography, and cyber security, Scentrics created an advanced and innovative solution that balances these requirements while meeting national security needs.
Scentrics’ seamless patented encryption technology can be used by any application to protect content stored on a device or sent to another device, delivering personal privacy for all devices, apps and platforms on the internet, giving users complete control over who sees what information.
Cryptography can be used to guarantee confidentiality, detect unauthorised changes, and verify the origin of data. Though cryptography has excellent potential, previous attempts to utilise the technology have been too bespoke, highly customised, expensive and not scalable. Developed by global experts in cybersecurity, machine learning and software engineering, Scentrics’ created a unique standards-based privacy protocol for the internet, which gives developers a standard, replicable way to add privacy to applications. The Company’s innovative and disruptive solution provides security and privacy out of the box, removing the complexity and cost traditionally associated with using cryptography, delivering a cost-effective and straightforward means to implement the most robust protection for data available and making the internet safer for all users.
Concerns about internet security are growing as social media and other technology companies continue to exploit big data techniques to harvest users’ data for financial gain. Scentrics’ patent-protected solution can encrypt all content, including photos, videos, messages and files, protecting users’ privacy. However, Scentrics does not store data, instead allowing vendors to access profiling information without seeing the detailed content and all with consumers’ permission, giving power back to the people.
This opportunity offers a prospective buyer the chance to acquire the intellectual property assets behind an innovative, disruptive business with the scope to transform the electronic privacy market and exploit the growing demand for a cost-effective and simple data privacy solution.
Over a decade old, the Scentrics brand is widely known and highly respected. The brand distinguishes itself from its competitors in the space, offering its unique one-click online security solution.
Partnerships with esteemed institutions and individuals influential in cybersecurity have boosted the brand, and confidence in the Scentrics brand was bolstered by investment from several high-profile backers. The brand was also propelled by signing a major commercial deal with a large, Singapore-based operator, with whom the Company partnered as part of the Singapore government’s digital strategy dubbed Smart Nation.
Various high-profile media outlets, including The Telegraph, The Times, the Financial Times, the Independent and the Evening Standard have publicised the brand.
The Company holds a registered Canadian trade mark protecting the “Scentrics” brand name, covering computer software and the recording, transmitting, reproducing or processing of sound, images and data.
The Company is likely to possess rights in an unregistered trade mark protecting the “Scentrics” logo.
The Company’s innovative technological solution is underpinned by some of the most sought-after patents for cyber security.
The Company’s patent portfolio relates to its unique systems and methods for enforcing a computer policy and mobile device security, with granted patents and pending patent applications across various territories.
The Company’s patent portfolio is available to acquire.
The primary scentrics.com domain name is available to acquire.
The Company owns the copyright in the website content hosted at scentrics.com, showcasing the Company’s products and services, research resources and whitepapers and privacy news, containing a depth of rich content and imagery.
Rights in the Company’s LinkedIn and YouTube accounts are also 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.