NORTHBROOK, Ill., June 23, 2015 (GLOBE NEWSWIRE) -- Hilco Streambank (www.hilcostreambank.com) announced the successful completion of its efforts to liquidate certain intangible assets of RadioShack Corporation (OTCMKTS: RSHCQ). Following a two day auction at the New York City offices of Jones Day commencing on May 11th, 2015, the winning bid of $26.2MM was made by General Wireless Operations Inc. The sale closed on June 19th, 2015. As a result of this sale and the separate sales of rights to the RadioShack trademarks in Mexico, Latin America, the Middle East and North Africa, RadioShack generated proceeds of approximately $40 million from the sale of its intellectual property assets.
The intangible assets included certain U.S and Foreign registered Trademarks, 73 active patents and pending patent applications, certain data in the RadioShack customer database, 295 registered domains - including "RadioShack.com" "Tandy.com", "TheShack.com" and "Ignition.com", the Company's franchise and dealer network and infrastructure, and the Company's Global Sourcing Business.
RadioShack (OTCMKTS: RSHCQ) has been a significant part of the American retail landscape for over 94 years. RadioShack's offerings include its proprietary consumer electronics sold under the RadioShack®, AUVIO®, Enercell®, Realistic® and Gigaware® brands, as well as mobility products and services from major wireless carriers. "We are extremely pleased that we were involved in the process of transitioning this global brand to its new owners" said David Peress of Hilco Streambank. "This sale was the culmination of a team effort among Hilco Streambank, Lazard, Jones Day, FTI Consulting and 360 Merchant Solutions, all of whom contributed to its success" Mr. Peress added.
About Hilco Streambank
Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, 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 (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.
Parties interested in learning more about the Assets and the sale should contact Hilco Streambank directly using the contact information provided below:
Executive Vice President
Executive Vice President
CONTACT: Gary C. Epstein EVP Chief Marketing Officer Hilco Global firstname.lastname@example.org 847 418 2712
Source: Hilco Global