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Abingdon’s Barkby Group unveils major global licensing deal for its sleep technology subsidiary
Oxfordshire-headquartered Barkby Group has announced that its sleep technology subsidiary Cambridge Sleep Sciences (CSS) has given a five-year global license to Somerset-based Sleep Sense International Limited (SSI), which will allow the latter to make a smart pillow using its SleepEngine platform.
The SleepEngine technology has been developed over more than a decade and is an audio solution that helps to retrain the brain to restore healthy natural sleep patterns. Meanwhile, SSI is a white label bedding company, whose brands include Laura Ashley, Mammoth, Sleepeezee, Pillowheadzzzz and Staingard.
Dr Julian Stone, CEO of CSS, said: “We are excited to be working with Sleep Sense International in such a large market.
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“By embedding SleepEngine we can now deliver our unique audio solution to aid and improve people’s sleep through most third-party speakers, headphones and earbuds.
“The agreement changes the market opportunity for us as we move the business towards a Software As A Service business model. We expect this licensing deal to be the first of many for SleepEngine.”
Mike Hobson, the managing director of SSI, added: “With our experience of manufacturing quality natural sleep products combined with this new technology, developed with CSS, plus our global reach of customers new and old, we know this will change the whole conception of sleep.”
Under the terms of the deal, the Somerset-based firm will hold exclusive rights in the pillow market as long as it orders a minimum of 25,000 units in the first 12 months. CSS will grant a 12-month extension of this exclusivity, subject to a minimum order quantity (MOQ) of 60,000 units in year two.
Based on this, Cambridge Sleep Sciences says it expects the license to generate royalty payments of £1.25 million in the first 12 months and £3 million in year two.
MOQs and payments for years three, four and five will be agreed in November, 2024.
CSS also noted that it has agreed a separate global license for SleepEngine with a multinational technology company and will shortly be announcing details.
Barkby Group is a real-estate, hospitality, and life sciences company based at Milton Park in Abingdon and Cambridge Sleep Sciences is part of its life sciences division.
