Singapore-based Unabiz, the operator behind the Sigfox IoT network, is taking proactive measures to address financial pressures facing its French subsidiaries. By filing for judicial reorganization, Unabiz aims to stabilize its core business in France while maintaining continuity for clients and partners. This move affects Unabiz SAS and Unabiz Network SAS and gives them an initial six-month window to regroup and make key operational decisions. The Singapore headquarters continues to oversee global activities as the French arm reorganizes to ensure long-term viability. Employees and investors have been reassured about Unabiz’s ongoing commitment to innovative IoT solutions.
When the financial challenges surrounding Sigfox emerged years ago, management changes and operational cutbacks followed. Earlier reports highlighted the company’s restructuring efforts after acquiring Sigfox in 2022, with workforce reductions and asset consolidations common during times of uncertainty. Recent developments reflect an ongoing push to find profitability and stability in the highly competitive IoT market. The legal protection sought now gives Unabiz more time and resources to implement a strategy with fewer disruptions compared to past approaches involving layoffs or piecemeal asset sales.
Why Did Unabiz Choose Judicial Reorganization?
Faced with €5 million in debt and a challenging business environment, Unabiz determined that judicial reorganization offered the best path forward. This procedure, approved by the Commercial Court of Toulouse, provides protection from creditors while the company seeks to renegotiate terms and access new financing.
“It is a responsible step to stabilize our operations in France and create the necessary conditions for restructuring our business,”
said Philippe Chiu, CEO and co-founder of Unabiz. The process is designed to preserve jobs, secure financial commitments, and allow the company to optimize costs without abrupt disruption.
How Will Operations Be Impacted?
While the French subsidiaries are directly involved, Unabiz states that its global IoT operations will carry on without interruption. The company has maintained 110 jobs in France, with some roles being adapted during this period of change. Unabiz also assures clients and collaborators that it will honor contracted services and continue rolling out new products as planned. A court-appointed receiver and bankruptcy judge will oversee the proceedings, ensuring transparency and accountability throughout the reorganizational process.
What Are Unabiz’s Growth Priorities?
After acquiring Sigfox in 2022, Unabiz expanded global IoT connections from nine million to 15 million, and increased sales from €12 million to €30 million. The group invested €36 million in the Sigfox brand during this period, targeting research, network optimization, and new IoT solutions.
“Innovation takes time,”
emphasized Philippe Chiu, highlighting that this restructuring aims to allow continued investments and technological advancements. Over the next six months, management will negotiate with creditors, explore fresh financing options, and streamline existing operations to support future development.
Restructuring through judicial reorganization allows Unabiz to focus on its core mission of providing IoT connectivity for industrial, logistics, and smart city clients. Stakeholders are looking for clearer communication and stable support during the transition. The broader IoT industry has seen similar moves aimed at preserving competitive advantage while managing financial risk. For Unabiz, distinguishing itself with products like those using Sigfox technology will depend on how effectively it uses this court-mandated process to restore financial health. Stakeholders and clients would benefit from monitoring product reliability, the pace of innovation, and workforce stability during the recovery period, as these elements typically indicate success in restructurings like this.
