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Acquisition Opportunity

Thomas Cook Financial Services Brands

Hilco Streambank is seeking offers to acquire the intellectual property assets of a portfolio of certain financial services brands owned by Thomas Cook Group Plc. (in Liquidation) and certain subsidiaries (also in Liquidation) (the “Companies”) on behalf of Simon Appell, Alastair Beveridge, Daniel Imison and Ben Browne of AlixPartners UK LLP as Special Managers of the Company appointed to support the Official Receiver as liquidator of the Company.

BID DEADLINE

AVAILABLE IMMEDIATELY

The following brands, trade marks, and domain names are offered for sale, either as a portfolio or individually.

Sumo

Sumo

Sumo was a mobile banking app and brand launched by Thomas Cook in conjunction with Ferratum Group, a digital consumer and SME lender. The app was designed for use with Thomas Cook Money services, and allowed customers to set up a multi-currency account which could be used via a contactless debit card.

Lyk

Lyk

Lyk was a pre-paid travel currency card from Thomas Cook Money. The card, which was serviced by Mastercard, allowed customers to pre-load foreign currency which could be used for transactions whilst abroad.

Available Assets

Goodwill in the Sumo and Lyk Brands

The brands all have the potential to be utilised as part of an established travel or financial services brand, and also as individual online e-commerce ventures. The three brands could be valuable acquisitions for disruptive challengers in the fintech space.

Trade Marks

The Company holds rights to a portfolio of registered trade marks protecting the three brands across the EU, Australia, Japan, New Zealand, Norway, and Singapore as can be seen here.

Domain Names

The Company has registered a portfolio of domain names protecting the Sumo and Lyk brands, as detailed below.

  • Sumo – marketing-sumomoney.com; sumobank.co.uk; sumobank.se; sumomoney.co.uk; sumomoney.com; sumomoney.com.au; sumomoney.se
  • Lyk – lykcard.co.uk; lykcard.com; lyk-card.com; lykcard.com.au

Sales Process

Please note that the deadline for offers is Wednesday 19 February 2020 at 4pm GMT.

A Bid Submission Form for submitting bids for the intellectual property assets is available on request.

Key Terms & Conditions

The bidder acknowledges that Hilco acts as an agent for the Special Managers of the Company appointed to support the Official Receiver as liquidator of the Company, who offers for sale only what right, title and interest the Company possesses in the assets. The information provided has not been verified by Hilco and bidders are deemed to have carried out their own due diligence.

VAT at 20% will be added to the price if applicable. A buyer’s premium of 10% applies to this sale. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply.

Contact Us

Contact Hilco Streambank for more information about the sale process, access to an online data room with diligence materials, and to obtain bid documents, including a bid qualification form.

Interested Parties

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