Even though there are rumors of potential investors coming to its rescue, Labège, France-based Sigfox may run out of time as it was placed under a court’s protection from its creditors for six months.
According to published reports, Sigfox asked a Toulouse court to shorten this period to only three weeks. That period ends this week and leads to speculation whether Sigfox will have a new buyer or will just completely go out of business.
Sigfox, founded in 2010, has raised money from a number of top-tier companies, including Intel, NTT, Samsung, Salesforce, SK Telecom and many others.
IoT Now reported that possible suitors include LoRa company Semtech, network solutions vendor Actility and even Orange. Sigfox, a major IoT player, had its financial woes chronicled by Techcrunch and French Tech Journal.
One of the last company announcements came in December, when it partnered with Skyhook to improve the quality and performance of existing tracking services on the Sigfox’s global network. The companies, by integrating Skyhook’s positioning services with Sigfox’s Atlas Wi-Fi service, will allow customers to locate their assets in indoor environments.
Sigfox posted a net loss of nearly $102 million on revenues of more than $27 million, with $132.8 million in debt, in its annual financial statement.
