Simplexity Plans $10M Stalking Horse Sale To Wal-Mart

Law360, Wilmington (March 26, 2014, 1:43 PM EDT) -- Private equity-owned mobile phone activator Simplexity LLC asked the Delaware bankruptcy court late Tuesday to approve a plan to auction many of its assets, including intellectual property related to its e-commerce platform, with Wal-Mart Stores Inc. acting as stalking horse with a $10 million bid.

In papers filed in the Delaware bankruptcy court, Simplexity said that the assets up for sale include numerous software applications, as well as the storefront website used for merchandising wireless devices and carrier plans and the Simplexity corporate site.

The sale...
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