Intellectual property valuer Metis Partners is seeking a buyer for the IP assets of Secure Electrans, a Cheshire-based company specialising in energy management and secure online payment services.
Alex Cadwallader and Andrew Duncan of Leonard Curtis Business Solutions Group were appointed as Joint Administrators of the company in March 2014, and instructed Metis Partners and Hilco Global to work on the sale of the Company’s patent portfolio.
Buyers are being sought in the energy and patent sectors. The deadline for offers is 12pm on Friday 25th July.
Seco, which was founded in 1999, developed smart meter and meter reading transfer technology, as well as providing a range of services to tackle ‘Card Not Present’ fraud.
Nat Baldwin, of Metis Partners, who is co-ordinating the global marketing drive for Secure Electrans, said: “The potential value of the smart meter market is enormous. The patents held by Secure Electrans have previously been valued at approximately £1 billion.
“In the region of 53 million UK installed energy meters will be replaced by smart meters by 2020 as a result of UK government initiatives and Secure Electrans’s UK licensing model was based on proposed royalties of £7 per smart meter device and £0.10 per payment transaction.”
By Fred Crawley