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Welcome Monty9
The info that I posted was from 2009, when Sycurio was called Semafone
VV
Semafone is the previous name of Sycurio - it is the same comany.
Lucretuis
Have you seen this before?
From 2009
Contact Centre Protect – the solution
Call Centre Protect – an overview
Semafone Call Centre Protect (CCP) eliminates the collection of card details by masking the data live call agents receive. This means both agent and call recording system does not ‘hear’ this data during the call, thus pausing the call recording or encrypting the data becomes unnecessary.
Semafone CCP removes a significant point of compromise for stolen card details. Semafone CCP enables the agent to maintain voice contact with the customer throughout the call and there is no need to transfer the caller to an IVR or other impersonal automated systems. Customers simply use their telephone keypad to enter the requested numeric data which is automatically received and managed by the Semafone CCP equipment.
Semafone CCP sits in between your incoming phone lines and your telephone switch or call recording equipment.
By default Semafone CCP passes calls straight through untouched. Semafone CCP does not require any changes to the lines or your telephony hardware
More here
http://web.archive.org/web/20090810004432/http://www.semafone.com/platform.html
-----------------------------------
Exciting News! PCI Pal has been named "Compliance Software Solution Provider of the Year" in the 2023
https://www.linkedin.com/posts/pci-pal_exciting-news-pci-pal-has-been-named-activity-7115709838659125248-8rlW
I think the answers are: 1.To avoid drawing attention to their own incontinence when Livingbridge/Sycurio had breached a confidentiality agreement; and 2. To avoid drawing attention to their own incompetence at pursuing an arrogant, ill-conceived & ill-thought out legal strategy in supposed defence of Sycurio’s “IP” (I note the reference in the Morning Star article to the claim that Sycurio “had invented the technology helping contact centre ensure PCI compliant telephone payments”. Others see things rather differently).
Regarding the “growth strategy” that must be a euphemism for squandering money on legal fees. As Livingbridge signed the accounts on 30th May, the amendments to the covenants must have taken place by then, before the trial started. With the verdict last week, have Livingbridge been scurrying back to Yale Midco 3’s bankers again?
The legal fees are mounting. Sycurio had £1.3 m on the clock by 31 December 2022 for its case against PCIP and the arbitration case with Eckoh. If we assume the arbitration case will cost 750k and their costs are the same as PCIP’s estimate of total costs of £3.7m for the UK and US cases, then it is facing further legal bills of £3.2m. Plus it faces paying PCIP up to £1.3m in costs in the UK case. Then it would face paying a further, say, £1m+ to PCIP in costs if it lost at trial in the US. So the total bill from the end of 2022 to the end of the US trial could be £5.5m, before taking account of the cost of any UK appeal. I bet Sycurio’s legal teams can’t believe their luck.
Sycurio, have posted these two pieces of news below on their Press & news section
Press & news.
Sycurio latest press releases, announcements, articles and media coverage.
23 June 2022
Court rejects PCI Pal’s motion to dismiss patent lawsuit
15 September 2021
Semafone begins patent infringement action against PCI Pal
https://sycurio.com/knowledge/press
===============
But not these two..Why?
UPDATE: Sycurio to appeal ruling on PCI-PAL's...
Morningstar
26 Sept 2023 — Sycurio is suing PCI Pal for infringement of several US patents and a trial is expected to take place in late 2024 or early 2025.
https://www.morningstar.co.uk/uk/news/AN_1695761883038545700/update-sycurio-to-appeal-ruling-on-pci-pals-patent-infringement-case.aspx
Shares Magazine
Sycurio responds to PCI-PAL confidentiality breach charges
8 Jun 2023 — PCI-PAL said Sycurio had illegitimately shared confidential information with personnel not covered by the agreements
https://www.sharesmagazine.co.uk/news/market/1686213672611646400/update-sycurio-responds-to-pci-pal-confidentiality-breach-charges
Happy to talk about growth, since Justice Bacon's verdict
2nd October 2023
Sycurio announces NICE CXexchange availability
26 September 2023
Enhanced Sycurio connector provides secure, seamless payment experiences for U.S. healthcare providers
Wednesday, October 04, 2023
85 notice Notice (Other) Wed 10/04 11:00 AM
NOTICE of No Reply Brief by PCI Pal (U.S.) Inc. re84 Response to Motion (Morrow, John)
https://www.pacermonitor.com/case/41847299/Semafone_Limited
Welcome, Adam and darren
I wonder how the "growth strategy" is going?
SYCURIO LIMITED
21 Sep 2023 Group of companies' accounts made up to 31 December 2022
2.3 Going concern
Post year end Yale Midco 3 Limited has amended its covenants with it's lenders, Wells Fargo and Accel-KKR, to allow the business to further invest in it's growth strategy.
N.Viney
Director
Date 30 May 2023
https://find-and-update.company-information.service.gov.uk/company/06963868/filing-history
Victor,
Yes, maybe Dentons already have the first few pages of 80 ready to go in anticipation.
We should know later this month whether Mathys & Squire have managed to concoct a reply to PCIP’s & Eckoh’s opposition to the second European patent & by mid-November a reply to the opposition to the third European patent. If there are no replies, I think we can assume the score will definitely be 4-0, although it would probably be mid-2024 before the EPO issues a notice to revoke the patents. If Mathys do reply, their arguments in answer to the “unanswerable “ should be amusing to read.
And on revocation we can then look forward to two more appeals, which will subsequently be withdrawn!! So about a year from now it should all be over at tbe EPO on the other two patents opposed to date.
Worth having a look back at the last Sycurio appeal
EP3402177 - SIGNAL DETECTION AND BLOCKING FOR VOICE PROCESSING EQUIPMENT
20.07.2023 Notice of appeal
We request that the decision is set aside and that a European patent is granted
https://register.epo.org/application?documentId=LKBCMRIG4DI4VFE&number=EP18164715&lng=en&npl=false
25.08.2023 Withdrawal of an appeal
We hereby withdraw the appeal
https://register.epo.org/application?documentId=LLQSNJTLXMMZZ0A&number=EP18164715&lng=en&npl=false
-------------------------------------
Lucretuis
EP3763112 - SECURE TRANSMISSION OF SENSITIVE DATA DURING CALL PROCESSING
01 / CRITCHLEY, Timothy
c/o Semafone Limited
Pannell House, Park Street
Guildford Surrey GU1 4HN / GB
02 / BALDWIN, Thomas
c/o Semafone Limited
Pannell House, Park Street
Guildford Surrey GU1 4HN / GB
13.07.2023 Intention to grant (signatures)
https://register.epo.org/application?number=EP19712010&lng=en&tab=doclist
Are Dentons and Dummett just putting the starting touches to their Notice of opposition letters, that will arrive just before the 9 month deadline? (when granted)
I think it might be a reference to the breach of confidentiality by Sycurio/Livingbridge as referred to in the RNS of 7th June, which received a non-denial denial from the hapless duo. In other words, if they use any of that information to infringe PCIP patents in the future, the PCIP legal team is ready.
I hope PCIP goes for the kill now and tries to invalidate Sycurio’s US patents well before a trial. Complete humiliation is no less than Livingbridge/Sycurio deserve. PCIP has attacked 8 Sycurio patents. So far 2 down, 6 to go.
I wonder if the not so subtle paragraph in PCI-Pal's release yesterday about defending their IP was aimed at the Sycurio team... Maybe PCI-Pal think Sycurio is actually infringing their patents. Now wouldn't that be something!
One approach for Sycurio would be to agree a deal with PCIP whereby Sycurio drops the infringement case and PCIP drops the invalidity claim.
The might well have gone into this not realising the downside of losing patents (and income which flows from them) and even before you consider the downside from reputational damage.
Continuing to pursue this in the US seems suicidal from them!
I wonder if we will have a decision from the US court before the Markman/claim construction hearing on whether the confidential claim construction ruling on one of the disputed patents from the “secret” arbitration case between Sycurio & Eckoh, said by PCIP’s lawyers to be supportive of PCIP’s position, can be made public?
The US court now has Mrs Justice Bacon’s judgment, which is also supportive of PCIP’s interpretation of key claims.
Hopefuly with a favourable outcome to the claims construction hearing, PCIP will be able to bring another motion to get the disputed US patents declared invalid, thus avoiding a trial & simultaneouly inflicting another humiliating defeat on Sycurio. Livingbridge/Sycurio seem to have a huge appetite for humiliation so let’s see how far they are prepared to take the US case.
Tuesday, October 03, 2023
NOTICE of Hearing: Markman/Claim Construction Hearing set for 10/24/2023 09:00 AM in Courtroom #5A, 401 W Trade St, Charlotte, NC 28202 before District Judge Max O. Cogburn Jr. This is your only notice - you will not receive a separate document. (ams)
https://www.pacermonitor.com/public/case/41847299/Semafone_Limited
---------------------------------------------
The DWP Contract runs out in March 2024. The big question is, will it get renewed?
DWP PCI Pal Secure Card Payment Service (SCPS)
A Contract Award Notice
by DEPARTMENT FOR WORK AND PENSIONS
Delivery
16 Mar 2022 to 15 Mar 2024
1 supplier
Pci Pal
Ipswich
Other Information
The contract award value is £3.32M for initial 24 month term plus a potential of £1.51M for each optional 12 month extension periods subject to actual consumption which will be pro-rata using the contracted charges.
https://bidstats.uk/tenders/2022/W12/771227681
Missed the opportunity to buy into these about 3 years ago. Have been following what’s going and decided today to come in. So have purchased based on good figures, good outlook and would now be very surprised if any reversion of the court case happened.
Welcome Adam. You're in good company. I've owned since early 2021. I've added a decent amount more today as well.
A fair valuation for this would be more in the ball park of 6x ARR, and frankly even that would be too low. PE could take this and make it very profitable. Which is the irony and hilarity of the whole Livingbridge/Sycurio situation.
It’s a buying opportunity. If Livingbridge/Sycurio choses to double down again in the UK case, it will almost certainly fail in its appeal, in my view. But it would allow Livingbridge/Sycurio to maintain the line, for the time being, that they are disappointed with the UK court ruling and have appealed. In other words an appeal would be a temporary face-saver, for Sycurio with customers and for the Livingbridge with their external investors. But it would just amount to postponement of the inevitable, in my view.
Let’s hope PCIP goes for a second Alice motion in the US case in the next six months or so to produce a knockout blow in the case there.
As you say, as for the 2024 numbers, the minor sales downgrade, at the lower end of PCIP’s guidance, is pretty irrelevant given the overall great trajectory of the business.
I've not posted here before but am a long-term (well 3-4 years) holder.
I bought a few more today. Not a material number as am up to my limit, but with the court case largely resolved the business is significantly de-risked. It'll help when some figures have been released showing break-even as unfortunately the current market conditions, and the UK in particular, doesnt seem to be rewarding promises.
Growing strongly, net cash, moving to profit this period....all for < 2x ARR. Crazy
This market never ceases to amaze me. The whiff of an appeal and we're back to where we started. Slight downgrade to next year's numbers but those results are fantastic in the wider context of the macro (that has affected all SAAS) and management distraction from the case.
Thanks, Victor.
Lucretuis
Couple of sites. No idea how accurate they are.
Mr Timothy John Critchley
Mr Timothy John Critchley has been appointed in a total of 8 companies. Mr Timothy John Critchley is no longer active in 8 of these appointments.
https://suite.endole.co.uk/insight/people/10235413-mr-timothy-john-critchley
--------------------
WORK
Chief Operating Officer @ Squared Up Limited
CEO @ Semafone
MBA Student @ Manchester Business School
COO @ KnowledgePool
EDUCATION
Manchester Business School
Master of Business Administration
2007 - 2009
London School of Economics
Bachelor of Law (Law)
1991 - 1994
https://rocketreach.co/tim-critchley-email_27899722
That is very helpful, Victor. Does Tim Critchley’s profile on LinkedIn give the month he joined Semafone & the month he left his previous employer?
Tim Critchley
When talking about payment security, don’t forget about the voice
Do people really pay over the phone anymore? That’s a question I’ve often been asked by friends and investors over the past five years, and I can say that in the retail industry the answer is an emphatic “yes”.
The voice channel, whether that’s telephone or Skype, is alive and well within retail. Most retailers will be aware, the demand for contact centres has increased rather than decreased with the rise in ecommerce. Customers pick up the phone when they have a problem online, fail to find the product they want, or simply want to talk to someone to discuss their purchase. And the more people shop online, the more they call.
As a result, retailers still frequently find themselves taking payments over the phone. One of our own customers, a leading retail brand that operates a large-scale ecommerce operation as well as high street stores, estimates this will continue to be the case for at least the next five years, and very likely beyond.
This means retailers need to ensure customer card data is completely secure. Negative publicity about card fraud over the past decade has been focused primarily on payments made either in person or online. Technology companies have accordingly targeted their efforts on these channels and developed ever better technologies to beat fraudsters. Hosted payment pages are now ultra-secure, using encryption and tokenisation to protect data and making online shopping far safer. Similarly, the ubiquity of chip and pin has now taken much of the risk out of high street transactions.
More here
https://www.linkedin.com/pulse/when-talking-payment-security-dont-forget-voice-tim-critchley
Comments, underneath
Craig Shilling
Spinning a number of plates…
Nick - Ultracomms - Ultra Communications PCI technology also uses DTMF masking technology allowing for the best customer experience whilst using a compliant method for taking payments. -
Ultra Communications
5 years 10 months
Operations Manager
Apr 2013 - Jun 2016...3 years 3 months
Support Engineer
Sep 2010 - Jul 2013...2 years 11 months
Role:
To process technical issues escalated to the department and to monitor and maintain the Company's bespoke call centre and predictive dialler solution. Additional duties include liaising and building relationships with Dev & Third party providers as required and designing and implementing systems to improve day-to-day work efficiency.
https://uk.linkedin.com/in/craig-shilling-6b928467?trk=article-ssr-frontend-pulse_x-social-details_comments-action_comment_actor-image&original_referer=https%3A%2F%2Fwww.linkedin.com%2F
Victor,
Yes, I saw that. Thank you. I should have included that for its utter irrelevance (ie, as a sign of the weakness of Livingbridge/Sycurio’s arguments). A feeble attempt at distraction, in my view.
That is a very good question you ask. And I wonder what the odd man out meant by competitors doing “more than their fair to help the tide rise!”. It would have made more sense to me if he had been referring to just a competitor but then he was a bit late to the party, joining Semafone2 four months after the last of the three patent applications had been submitted by Semafone1.
As you may have gathered, I won’t be asking ChatGPT for an answer to my question (or yours).
Lucretuis
Sycurio, also say that the arbitration does not concern PCI Pal or its products.
--------------------------
Who were "the nice ones"?
Tim Critchley
After 10 amazing years at @Semafone, it’s time for my Roy Batty moment……I’ve seen things you people wouldn’t believe …….not exactly attack ships on fire off the shoulder of the Orion but I have watched PCI-dreams glitter in the dark through the compliance audit gate………I can hear the groans from here so enough of that. Time to go!
It’s been an absolute blast helping grow Semafone over the past 10 years and contributing in some small way to the creation of a whole new sub-sector around securing contact centre payments. I’ve learned a tonne along the way and salute everyone involved: particularly all my fabulous colleagues at Semafone who have made it such an enjoyable journey but also our wonderful customers who have put their faith in us over the years; our amazing partners who have helped us scale and launch in new markets; our super-supportive investors who definitely give Venture Capital a good name; and also our competitors (the nice ones!) who have done more than their fair share to help the tide rise!
https://uk.linkedin.com/posts/tim-critchley-557493_after-10-amazing-years-at-semafone-its-activity-6499319340704284672-y4IS?trk=public_profile_like_view