Near Toulouse. Here’s the company that depends on Sigfox, a heavily indebted tech flagship
By David Saint-Sernin
Published on
updated on 21 Apr 22 at 14:59
She wanted to conquer the world and eventually ended up in the commercial court of Toulouse.
After months of great economic difficulties and after a first social plan launched in 2020, the pioneer of the Internet of Things, the Sigfox company, based on Labège (Haute-Garonne) near Toulouse, now knows its buyer. The company had been placed in receivership on January 26, 2022.
The chosen Unabiz company
Four offers had been put in competition. Thursday April 21, 2022, the commercial court announced that it was that of the company Unabiz which was selected.
The announcement was originally scheduled to take place on April 14, but the Ministry of the Economy, which decides to choose takeover offers from abroad, did not give its consent.
“110 employees out of the 174 of the Sigfox company will be retained” indicated the court. 64 will be dismissed but some of them have already been resigned. As of March 31, there were in fact 168 employees remaining within Sigfox SA. The 16 employees of Sigfox France will be retained.
UnaBiz is a company specializing in the Internet of Things, registered in Singapore, which today operates the 0G network of the French company in Asia. The company is run by two French entrepreneurs, including a former employee of Sigfox.
Unabiz won out against other offers from Actility, OTEIS France (a building, water, environment and infrastructure consultancy and engineering group based in Toulouse, editor’s note), Greybull Capital LLP is a UK-based investment company and Heliot Europe Gmbh (the Sigfox operator in Germany and Slovenia).
It was the offer best perceived by the CSE of the Toulouse company.
Sigfox hit by the effects of the health crisis
In 2020, Sigfox had been hit hard by the effects of the health crisis and resolved to launch a job protection plan. At the time, this plan provided for the elimination of 47 positions, including 25 voluntary departures, out of a total workforce of 400 employees. founding son, Ludovic LeMoan, then passed the baton to Jeremy Prince.
Not enough to stem the fall of this promising company described as “Unicorn” and valued at one billion euros in 2018. A time when this company dreamed of a bright future and planned to connect 6 million people to its zero speed network, all over the world.
Place in receivership in January
Sigfox had finally been placed in receivership in January 2022, for a period of six months, a period which was to “make it possible to identify, thanks to the implementation of a disposal plan, new buyers with the capacity to “to work for the long-term development of Sigfox, and to propose the maintenance of jobs”, explained in a press release the company.
Several offers studied
From March, several potential buyers had been interviewed. Five were on the final list: Actility, OTEIS France (a Toulouse-based consulting and engineering group for building, water, environment and infrastructure, editor’s note), Unabiz (operator of Sigfox in Asia), Greybull Capital LLP is a UK based investment company and Heliot Europe Gmbh (the Sigfox operator in Germany and Slovenia).
Sigfox in debt
Despite an activity that extends to 75 countries and a turnover of 24.2 million euros, Sigfox’s debt exceeds the bar of 100 million euros.
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