Nine companies will acquire Sixfox

Nine companies will acquire Sixfox

Many companies are interested in acquiring IoT company Sigfox. The list includes Actility and other operators of the Sigfox network as well.

Covid-19 has had a significant impact on French companies. On the IoT companies side, many companies cite complex conditions that make it difficult to ask for products. Of these, we have Sigfox, which filed a “security request” last month. It continued with an opening “Rescue operations” With the Toulouse Commercial Court. One approach, it should be noted, was at the request of the company.

Focus on the nine companies interested in Sigfox

Prince Jeremy, The CEO at Sigfox has spoken out on the matter. He says nine companies will be willing to acquire “at least part of the Sixfox Corporation.” Seven of them wanted to take advantage of the opportunity to acquire Sigfox SAS, a subsidiary of the operator in France.

In this sense, we find: Jakot Group, Sentians, Otis France, Unabis, Ivory Innovation Management, Heliot Europe GmbH, Grable Capital, Buffet Investment Services Consortium and finally the French IoT Activity. According to the prince, all of these offers are good, and he firmly believes that this is only the beginning.

Sigfox is forced to find a buyer

Sixfox has always focused on improving low-power wireless networks for IoT devices. This was in 2010, the date of its establishment, to this day. Its CEO justifies that the company could not handle the current situation “Get the IoT off the ground in a timely manner”. However, he is sure “Substantial volumes” The future.

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His visit to the company was a year ago. However, this did not lead to additional funding. Added to this are supply chain issues and the global health crisis. As a result, the company has registered millions of euros to date, in addition to the “inability to collect customer orders in a timely manner”.

He also declares: “These difficulties were added, the debt was high, and instead of asking for additional funding I wanted to accept my responsibilities and put Sixfox on receipt.”

Fortunately, all Sigfox units are still functional. This is the case American subsidiary One who continues his work normally. He underscores that there will be two options before the Sigfox buyer in the future. The first option is to take all the subsidiaries as they are, i.e. through them Loans and contracts. The second opportunity is simply to sell them.

As a reminder, a fundraiser $ 300 million Previously hosted by Sigfox. Despite this contribution, the net loss recorded in the last financial year is in line $ 102 million. There was a corresponding incomeJust $ 27 million And financial loans, $ 132.8 million.

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About the Author: Cory Weinberg

"Alcohol evangelist. Devoted twitter guru. Lifelong coffee expert. Music nerd."

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