Engagement
Metis Partners was engaged by Kroll Advisory to help with marketing and sale of the intellectual property portfolio owned by Now Technologies Limited; Now Technologies (IP) Limited; Musicqubed Limited and Musicqubed International Limited (“MusicQubed” or the “Companies”).
Company
MusicQubed was founded in 2011 as a white label music streaming app that targeted casual music listeners at a mid-market price point. The Company partnered with a number of global telecommunications providers including mobile operator O2 to launch music streaming applications, with the O2 app garnering over 300k users and generating a total of 100m streams.
IP Assets Sold
- International Patent Portfolio of streaming platform
- Trade mark portfolio
- Brand & reputation
- Website Domains
Highlight of this IP Sale
The sale of the IP assets was a positive outcome considering the business had been in administration for a number of years at the time of sale. Our strategy included identifying possible infringers of the patents and this influenced our marketing and sale approach. Following extensive diligence by interested parties, we created competitive tension and finally secured a winning bidder. The outcome was a return to creditors including a future earn out.
