Nine potential buyers made the Feb. 25 legal deadline to take over Labège, France-based Sigfox. They are Actility, Buffet Investment Services Consortium, Greybull Capital LLP, Heliot Europe Gmbh, Iwire Innovation Management Ltd, OTEIS France, Sentiens, UnaBiz, and Groupe Zekat for Sigfox SA.
Sigfox was placed under a court’s protection from its creditors for six months. However, the company asked a Toulouse court to shorten this period to only three weeks. That period ended last week—and led to speculation whether Sigfox would have a new buyer or will just completely go out of business.
Jeremy Prince, Sigfox CEO, told Location Business News that the company sent a letter out to its operators to tell them about the potential investors. For Sigfox France, seven of the companies came forward, but Actility and Buffet did not participate.
The letter to operators said that “Sigfox’s management will discuss with the takeover candidates to improve the content as much as possible in the interest of the company, its employees, and its technology.”
Sigfox, a major IoT player, had its financial woes chronicled by Techcrunch and French Tech Journal. 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.