NEW YORK--(BUSINESS WIRE)--Hilco Streambank, the intellectual property valuation and disposition arm of Hilco Trading, LLC, today said that the auction for the intellectual property of Borders, which was held on September 14, 2011, in New York City, resulted in the sale of various assets for $15,775,000. Multiple bidders, including Barnes & Noble and Berjaya Books, each acquired specific assets, which included a global portfolio of trademarks, the Borders, Waldenbooks and Brentano’s trade names, Internet domain names, and the Borders.com e-commerce website. The outcome of the auction is subject to approval by the United States Bankruptcy Court for the Southern District of New York. A hearing is scheduled for September 20, 2011.
Ten bidders participated in the robust proceedings, including booksellers, major publishing companies and internet only retailers. The auction included more than 50 rounds of bidding before the winning bidders emerged.
“We are very pleased with the successful auction. The participants clearly recognized the significant strategic value in the Borders name and other assets linked to the Borders customer base, and the Borders estate benefited as a result,” said Holly Etlin, Borders Group CEO.
A separate sale process for Borders Group’s Class B legacy IPV4 addresses is underway. Interested parties should contact Hilco Streambank and ask for Kirstin DiCecca at 781-444-4940.
About Hilco Streambank
Hilco Streambank (www.hilcostreambank.com) was founded in 2011 following the integration of Needham, MA-based Streambank, LLC, and Northbrook, IL-based Hilco. Founded in 2007, Streambank specialized in intellectual property consulting and the valuation and marketing of intangible assets such as trade names and patents across a wide range of industries, including automotive, consumer durables, health care, retail, apparel and footwear, chemical, telecommunications, IT and software. The company has handled the IP of Borders Group, Anchor Blue, Circuit City Liquidating Trust, and Berkline Benchcraft, among other engagements. Hilco (www.hilcotrading.com) is a closely-held, diversified financial and operational services firm providing asset valuation and monetization services focused on retail, consumer and industrial inventory, machinery and equipment, real estate, accounts receivable and intellectual property. Through an integrated platform of more than 20 business units, Hilco helps companies and their professional advisors derive the maximum value for said assets through appraisals, asset disposition and acquisition services, private equity investments, advisory and consulting services.