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Hilco Streambank Acquires Social Network Tsū
Thursday 14 March 2019

14 March 2019 - New York, US-based advisory firm Hilco Streambank, focussed on monetisation of intellectual property assets, has acquired the assets of New York-based social network Tsū, the company said.

Terms of the transaction were not disclosed.

The acquisition, which was finalised in early 2019, comes after Evacuation Complete, LLC filed for bankruptcy in 2016. The assets include its domain name, the Tsu trademark, proprietary code, software and its database of registrants.

Hilco Streambank said it is seeking a strategic buyer or partner for the assets.

The Tsu assets, including its revenue sharing algorithm, are being stored in databases under Hilco Streambank's control.

Hilco Streambank is an advisory firm specialising in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through auctions., Hilco Streambank has established itself as an intermediary in the consumer brand, Internet and telecom communities. Hilco Streambank is part of Hilco Global.

Tsu was launched in October 2014 as a fully functional, globally scalable social networking platform available via the web and its iOS/Android application.
Date Published: 14/03/2019
Target: Ts, ū
Country: USA
Sector: IT/Online Services
Type: LBO
Status: Closed
Buyer: Hilco Streambank
Terms of the deal were not disclosed