Update: Nine companies entered bids for ailing IoT firm Sigfox, as the deadline for its sale passed last Friday (February 25). Bidders include Singapore-based IoT house and early front-runner UnaBiz, which had confirmed its interest previously, as well as regional Sigfox operator groups Heliot Europe and iWire, Enterprise IoT Insights understands. Heliot Europe and iWire had also been widely tipped. Semtech, owner of the rival LoRa technology, has not entered the running, it is understood.
It is thought, as well, that no joined-bids were received from consortium-like groups with Sigfox interests, such as Sigfox operators, as had been suggested as a possibility previously. Sources have claimed as well that none of the bids received by CBF Associés, appointed to handle the administrative receivership process by the Toulouse Commercial Court at the end of January, have been significant enough to erode Sigfox’s considerable debt balance – or even to go much higher, nominally, than €40 million.
Again, this is unconfirmed. It is also unconfirmed even whether the receivership process anticipated bidders would cover Sigfox’s debts, or whether the process itself set out to wipe the slate clean for new owners. CBF Associés is expected to reveal the identity of the bidders shortly, today (March 1). Enterprise IoT Insights will get back with further information, as soon as possible (as soon as MWC week lets in the daylight to get back to writing).
A spokesperson said: “From now on and over the next few weeks, the bodies involved in the procedure, and in particular the receivers who are working alongside with the management and the employee representatives, will duly examine these offers and their implications for Sigfox. 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.”
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