IPIX, a former veteran vendor in the security and surveillance industry, will see its assets and intellectual property go on the auction block this month as part of its Chapter 7 bankruptcy
The auctions will be held on Dec. 12 and Dec. 20, and will include IPIX assets and intellectual property, including provisional patents for what is described as gigapixel camera technology. The company's core technology was that it could capture a 360-degree image and then parse that data into viewable formats using its IPIX technology. The technology was finding applications in government security applications, as well as simple real estate property tours for interested buyers.
The auctions will be conducted at the Alexandria Division of the U.S. Bankruptcy Court for the Eastern District of Virginia.
The auction on Dec. 12 at 10 a.m. will be for physical assets like equipment and furniture. The Dec. 20 auction (10:30 a.m.) will sell the gigapixel provisional patents, which were developed with DARPA. The technology was not complete, but reportedly had undergone testing and was being reviewed for the addition of night-vision functionality.
More auctions are expected in coming months to sell of the company's inventory of cameras and lenses and other patents (including the core 360-degree technology).
IPIX has seen a slight reincarnation of itself via the online e-commerce store Ipixstore.com
For more information, contact Donald F. King, the court-appointedChapter 7 trustee. He is based in Fairfax, Va., with Odin, Feldman & Pittleman.
The available asset auction information is also published at www.tranzon.com.