4 Mins
Holoxica Limited was placed into Creditors’ Voluntary Liquidation on 9 March 2023 and Shona Campbell of Henderson Loggie LLP was appointed Liquidator of the Company.
The Liquidator is seeking offers to acquire the business and assets of the Company.
Background
The Company is a technology company specialising in 3D holographic visualisation and conferencing (3D telepresence). The Company was incorporated in 2008 and registered in England but has operated from Edinburgh, Scotland.
The Company’s proprietary solutions enable 3D images to appear without the use of ‘headgear’. The Company has identified the medical and military markets as its key markets but the technology will have uses in a variety of other markets including consumer, nuclear, engineering and construction industries.
The Company has been approached by various entities regarding usage of its technology. This includes receiving a direct request from NATO US, as well as the Company entering discussions with Silicon Valley based Scrum Ventures to explore potentially market applications for its technology. The Company has developed a strong reputation and relationship with the UK Defence and Security Accelerator/Defence Science and Technology Laboratory and is mentioned in several global market research and analytical reports together with top players.
This acquisition opportunity presents a buyer with the opportunity to capitalise on development work carried out to date in a 3D telepresence market which has huge potential.
Available assets
The Company has the following assets available.
1. Intellectual Property
The Company’s main product portfolio currently consists of the following:
- Holoviewer. This is an interactive 3D visualisation app designed for use within several industries. It displays animations and models in real time on 3D light-field displays. The app is primarily used for training, education and visualisation purposes. Original content has also been created by the Company to be displayed on the Holoviewer app, such as surgical training and demonstrations.
- Holomaps. This app facilitates 3D map/terrain visualisation, allowing users to build an interactive 3D map of any location in the world. This has military and other applications.
- Holoslicer. This is an app which facilitates volumetric 3D visualisation of medical DICOM data; this can be used by medical professionals to display various scans.
- Holopresence. This is a holographic 3D chat application which allows users to communicate with each other in natural 3D; this can be utilised via WIFI, broadband and 5G and can be used for teleconferencing or for remote medical consultations.
1.1 Patent
The Company has a single granted UK patent entitled “Projection array and light field display”.
This patent relates primarily to previous hardware activities in which the company were involved (developing holographic hardware) and does not directly cover any inventive aspects of the Company’s recent software.
1.2 Copyright
The Company has several important copyright assets which include:
- Anatomical images including digital holograms and models
- Software code and apps. This includes software code which supports the holographic display functionality, and the apps on which this is utilised
- Other artistic works and media recordings. This includes all graphics that have been originally created/utilised by the company, as well as imagery that can be found in its marketing materials and website. For the purposes of this report, it has been assumed copyright in all these materials has been assigned to the Company
- Notebooks and process documentation. These include details of the Company’s trade secrets (covered below)
- Content of the website hosted at holoxica.com
1.3 Confidential assets (trade secrets and know-how)
The Company possesses significant amounts of know-how and a number of trade secrets related to the algorithms behind its software. Specifically, the core framework behind Holocore and its light field display 3D graphics rendering.
1.4 Other intangibles
The Company has other intangibles assets including contractual rights to use certain domain names (most notably holoxica.com).
The Company does not currently have any registered trademarks.
2. Tangible assets
Tangible assets include various IT hardware and assets.
To visualise 3D images without the use of headgear, specialist hardware (displays) are required. The Company works closely with an authorised reseller of hardware manufacturer Looking Glass Factory. The Company acts as a Value Added Reseller (VAR) of the Looking Glass Factory, adding utility to and then selling its hardware to customers.
Sale Process
Further company information will be provided by Henderson Loggie LLP following the return of a signed confidentiality agreement.
Any offer must be sent to the Liquidator Shona Campbell at Henderson Loggie LLP, in writing to lynn.barr@hlca.co.uk by 5.00pm GMT on Wednesday 29 March 2023.
Any party must be capable of completing by 5.00pm GMT on Wednesday 5 April 2023.
Key Terms & Conditions
Any purchaser acknowledges that the Liquidator offers for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The Liquidator has not verified the information provided, and purchasers are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price.
