Offers to acquire the assets are due January 10, 2019
Hilco Streambank, a leading advisory firm specializing in the sale of intellectual property assets, is marketing for sale an extensive patent portfolio covering mixed reality (augmented reality/virtual reality (“AR/VR”)) smart glasses technology, as well as other associated intangible and physical assets of Osterhout Group, Inc. (ODG). A sale of the assets will be conducted pursuant to Article 9 of the Uniform Commercial Code on January 15, 2019 at 10:00 a.m. Eastern Time, by Hilco Streambank on behalf of JGB Collateral, LLC, as collateral agent for the secured lender. Bids are due January 10, 2019 at 12:00 Noon Eastern Time. Information regarding the opportunity is available here.
The robust patent portfolio contains hundreds of assets and represents one of the world’s largest smart glasses patent portfolios, providing the foundation for head-worn computing and electro-optics technology that serves a variety of purposes among industrial, enterprise and business mobility professionals. Key developments achieved by the portfolio include HD see-through optics, eye-imaging and tracking, thermal management and technology integration, among other areas. The portfolio includes 107 issued patents, 16 notices of allowance, and 71 applications that have been abandoned but may be refiled. Other available assets include several product-related trademarks, the company’s domain name and tangible collateral supporting the business.
According to Hilco Streambank CEO, Gabe Fried, “The patent portfolio protects a wide range of features and uses that are critical to the development of high performance head-worn AR/VR glasses.” He added, “The buyer will be poised to position itself at the top of a dynamic and innovative industry that is on the precipice of significant growth.”