UnaBiz, the massive IoT provider based in Singapore, has been appointed as the new of owner of Sigfox by the Commercial Court of Toulouse, which took out the beleaguered French ultra-narrowband IoT company out of receivership.
In a deal estimated to value at around €25 million, UnaBiz acquired Sigfox SA, the primary technology company, and Sigfox France SAS, its network operator subsidiary in France.
UnaBiz, which was Sigfox operator for Singapore and Taiwan, bested nine companies that came forward with bids during the receivership proceedings. Over the next few weeks, the administrators, Sigfox management and the employee representatives will work alongside UnaBiz to ensure a smooth transition of ownership to Sigfox’s existing commercial activities.
“I want to thank the entire Sigfox community for supporting us, and the French government for authorizing our investment. While the transition of ownership marks a new beginning for Sigfox, UnaBiz will definitely guarantee the French sovereignty of Sigfox,” said Henri Bong, co-founder and co-CEO, UnaBiz.
Business continuity a top priority
The new management has pledged to put business continuity on top of its agenda. Sigfox is leading provider of IoT communication services and the pioneer of the 0G network in 75 countries worldwide and is in a unique position to champion massive IoT adoption.
Upon handover, UnaBiz will safeguard 110 existing employees on a total of 174 and make financial and operational assessments to protect the firm’s assets, books, and most importantly, mission-critical network and backend systems, to address customers concerns.
“On top of securing the sales pipeline for Sigfox in the next 12 months as global markets emerge from the pandemic, UnaBiz and Sigfox will strive towards the convergence of LPWAN. The new Sigfox will reinvent itself and collaborate with other IoT communication technologies to seize new market opportunities,” said Bong.
To establish a more durable and collaborative global ecosystem, new strategies and governance will be put in place to facilitate engagements with Sigfox’ existing partners, customers, and Sigfox operators to align stakeholders’ interests and support the company’s long-term development in its new chapter.
Arnaud Tayac, director of Sigfox, said: “The continuity of Sigfox’s services is therefore not only ensured, but will be accompanied by new ambitions. UnaBiz already being at the heart of the Sigfox ecosystem through its activities as a Sigfox operator in Singapore and Taiwan and as an IoT solutions provider, the transition should be quick and simple.”