Assets of Secure Channels to be Sold in Article 9 Process by Hilco Streambank Bids Due April 8, 2021; Auction to be Held April 14, 2021
Hilco Streambank (www.HilcoStreambank.com) announced that it is seeking offers to acquire the intellectual property and other personal property assets, including postquantum cybersecurity encryption software and patent portfolio, of Secure Channels Inc. (www.SecureChannels.com).
A sale of the assets of Secure Channels is being conducted by CHOL Inc., as secured lender, pursuant to Article 9 of the Uniform Commercial Code. Bids are due on April 8, 2021 at 12:00 p.m. Eastern Time (U.S.), and a public auction will be held on April 14, 2021 at 12:00 p.m. Eastern Time (U.S.).
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.
Also Read: How the Managed Security Services Detection and Response Landscape is Evolving
“The post-quantum cryptography market is on the rise as computer software ramps up in an effort to withstand the threats of public-key cryptography by quantum computers,” remarked Hilco Streambank CEO Gabe Fried. “Secure Channels designs lightweight encryption tools and platforms that offer software developers, hardware manufacturers and enterprise organizations more ways to leverage advanced encryption.”
Parties interested in learning more about the assets should visit www.hilcostreambank.com/SecureChannels, or contact the Hilco Streambank representatives identified below directly. The sale of the Property will be conducted on an “as is, where is” basis, without representations and warranties.
