Toulouse. Sigfox whets the appetites of nine potential buyers
They had until February 25 to make themselves known. Nine candidates for the takeover of Sigfox have submitted an offer to the Toulouse Commercial Court, a sign of their interest in the low-cost, low-consumption 0G network technology for the Internet of Things, deployed by the Toulouse-based company. Founded in 2009 in Labège, Sigfox boasts global coverage in seventy-five countries and daily processing of 80 million messages generated by 20 million connected objects. Despite record fundraising, the company, which employs 250 people worldwide, including 150 in Toulouse, was unable to cope with its debt, hence its placement in receivership on January 26.
Among the takeover files is that of the start-up Actility, founded in 2010 in Lannion, which has become a world reference in LoRaWAN networks. This technology, which allows connected objects to exchange small data at low speed, is currently the main alternative to the Sigfox network. The company Actility, with a turnover of 8.4 million euros and of which Orange is one of the historical shareholders and financiers, raised 70.5 million euros in 2017 notably from the industrialist Bosch, the investment funds of the Mulliez Creadev family and Inmarsat.
Operators required
Three companies that already operate part of Sigfox’s global low-speed network have also reached each other. These are the Lausanne company Heliot Europe Gmbh, exclusive operator in Germany, Switzerland, Austria, Slovenia and Liechtenstein, the Singaporean UnaBiz, operator in Asia, and Iwire Innovation Management Ltd. Founded in 2018 and domiciled in Dubai, this company has integrated its own infrastructure to refine Sigfox technology in the United Arab Emirates.
The Buffet Investment Services Consortium fund and the British investment company Greybull Capital LLP are also in the ranks.
Oteis France, a group of 500 people, based in Ile-de-France and specialized in building, water, environment and infrastructure consulting and engineering, also has its interest. Also among the potential buyers, Sentiens, a Labège company founded in March 2021 by a former Sigfox executive who operates in computer systems and software consulting, as well as the ZeKat group. Based in Maine-et-Loire and specializing in the fields of mechatronics and digital technology, he made a name for himself in the region by buying the Toulouse start-up Ffly4u in February, in receivership since November 2021.
Among these nine potential buyers, all except Actility and Buffet Investment Services Consortium, they are designated for the takeover of both the Sigfox group and its French subsidiary, network operator in France. For the management, “these offers reflect the interest both in the unique technological profile of Sigfox, and in the potential of its markets as well as the quality of its teams”.
Johanna Decorse
Pictured (illustration): The shadow of former co-founder Ludovic Le Moan still hangs over the company. He remains convinced of the company’s potential. Credits: Rémy Gabalda – ToulÉco.