Bids Due October 17, 2022; Auction to Be Held October 18, 2022
New York, NY, October 5, 2022: Hilco Streambank (www.HilcoStreambank.com) announced that it is seeking offers to acquire the software and other assets of Edgeworx, Inc., which has developed an edge computing artificial intelligence solution for software developers along with associated hardware.
A sale of the assets of Edgeworx is being conducted by Edgeland, LLC, as secured lender, pursuant to Article 9 of the Uniform Commercial Code. Bids are due on October 17, 2022, at 12:00 p.m. Eastern Time, and a public auction will be held on October 18, 2022, at 12:00 p.m. Eastern Time.
Interested parties can learn more here.
The product – Darcy.AI – allows developers to build in their local environment, deploy applications and hardware at the edge, and run artificial intelligence software utilizing the cloud. The company’s software serves as an operating system allowing developers to build real-time artificial intelligence into the infrastructure of the edge of networks. The hardware – first deployed via a camera – allows businesses to employ a sleek, computer vision camera at the source of data capture. The cloud permits the camera – or any other hardware or software at the edge – to operate remote hardware and software just like anything else in the cloud, without pushing video feeds back to servers.
“The software provides an end-to-end platform of AI, hardware, and cloud tools that can integrate with any infrastructure or model, be it your own design or a model from the web,” remarked Hilco Streambank CEO Gabe Fried. He continued, “The software is being utilized and the company has produced hardware – a camera – allowing the data to remain in the cloud at the edge of networks, leading the way in connecting the edge to the cloud.”
The sale of the assets will be conducted on an “as is, where is” basis, without representations and warranties.
Gabe Fried Chief Executive Officer 617.458.9355 | Richelle Kalnit Senior Vice President 212.993.7214 | Stella Silverstein Analyst 646.651.1953 |
About Hilco Streambank: Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global, the world’s leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, real estate and strategic capital equity investments.
