Phenix Real Time Solutions Assets Put Up for Auction, Had Approximately $5M in 2024 Revenue and Wasn’t Profitable

Phenix Real Time Solutions’ assets have been put up for public bidding by their VC firm, KB Partners. Phenix has been trying to sell the company for many months but has not been able to get the valuation they wanted. The company had approximately $5M in 2024 revenue and wasn’t profitable. By my last count, they had 21 patents. I’ve spoken to multiple CEOs over the past few weeks who reviewed the business but didn’t see any value in acquiring the technology. Phenix’s largest customer, SIS (Sports Information Services), also passed on the acquisition.

Despite the considerable talk and hype surrounding low and ultra-low latency, there is insufficient demand in the market or a lack of application use cases that can benefit from it. No vendor can survive by selling a stand-alone low/ultra-low latency as it must be sold as part of a larger video workflow platform. Perhaps this news in the market will help dampen the hype around ultra-low latency and force people to focus on what works as a business, rather than what can be achieved simply because the technology allows it.

Any party interested in bidding at the Auction must register by June 24, 2025.