Bid Deadline: Monday 19 December 2022 at 4pm GMT
Hilco Streambank (“Hilco”) is seeking offers to acquire the intellectual property assets of Superrational Limited (“Delic” or the “Company”) on behalf of the Provisional Liquidator of the Company, Brian Milne of French Duncan LLP.
Although innovative tools are available for producing and discovering music, few options exist to help creators connect the two worlds effectively and protect their art. Recognising the need to address this gap, UK-based start-up Delic developed a platform (the “Platform”) to bridge the gap, providing a technological solution that allows musicians to get on with the act of being creative with the confidence that their rights are being protected, and that they will be compensated fairly for their work.
Beginning in 2020 as a creator workflow management system, Delic quickly established a reputation as one of the easiest ways to send, receive and preview audio files online. The Company’s slick and innovative Platform offers users the opportunity to collaborate with other artists via a real-time shared workflow space, forums to manage projects, and allow files to be shared between music creators in one space via a public page with livestream curation, meaning artists can share ideas and inspiration for songs.
With an artist-first approach to creating new music and project management, Delic was founded to make things easier, fairer and more rewarding for those making music. The Company’s Platform facilitates opportunities for musicians and music creators to grow their careers, making the process easier for the many who make music. The Platform also offers its users an easier way to make a living from their creations, utilising a PayPal.Me link whilst also offering full transparency and real-time accountability, rights attribution, and management.
Further attributes of the Platform include auto-categorisation of assets by metadata and for them to be registered on a blockchain ledger, core asset and rights management tools, from bulk uploads to sales, sync licensing, contracts and payments, catalogue onboarding and management, release management including digital distribution, and publishing services.
Approximately £900k was invested in developing the Delic Platform, which was created in-house by industry experts. The Platform is currently in its beta stage and has attracted approximately 1,500 users. This opportunity presents the chance to acquire a proprietary and commercialised music asset and rights management Platform, a respected brand and a significant customer base, facilitating expansion or further growth in this high-value sector.
The Delic brand was founded with the vision of putting control back in the hands of creators, with the idea created by musicians for musicians.
The brand represents the Company’s core values, offering a well-developed Platform that allows artists to focus on creativity by eliminating administrative processes from the creative process and managing their music from the development stage to release.
The brand has garnered the attention of key industry publications, including PRS For Music, Creative Informatics and Musically. Further, Delic was featured in the Ones to Watch 2021 by the Creative Industries Council, strengthening the brand.
The brand and Delic Platform have established a loyal creator following, with the brand further bolstered by an impressive social media presence.
The Company is likely to possess rights in unregistered trade marks protecting the “Delic” brand name and logo below.
The Company owns the copyright in the content of the attractive and innovative delic.network website, which hosts the Delic Platform.
Developed in-house by industry experts, Delic is a well-designed, well-optimised proprietary Platform that gives creators total control over their music by streamlining creative workflow, capturing rights data at the point of creation, and allowing them to focus on creativity. The Platform is a cloud-based digital project organiser that eliminates admin from the creative process and serves as a single destination for managing music assets, rights, tasks, files, contracts and payments, revolutionising the creative process.
The Company holds a database of c. 20k prospective customers stored within the Platform.
Popular social media channels support the Delic brand:
Offers for the intellectual property assets are due Monday 19 December @ 4pm GMT.
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 bidder acknowledges that Hilco acts as an agent for the Provisional Liquidator of the Company who offer 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. Hilco nor the Provisional Liquidator have verified the information provided, 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 Streambank’s full Terms and Conditions apply.
