Australian administrators were given four days to line up potential suitors for IoT connectivity and services provider Thinxtra, which entered voluntary administration yesterday (7 December).

The local office of professional services company Grant Thornton is handling the proceedings, which involve seeking expressions of interest from potential buyers by noon on 11 December.

Thinxtra provides low-power, wide-area connectivity, IoT devices and data services. It was appointed the Australian operator of the Sigfox network in 2016 and today provides asset and fleet tracking, smart facilities management and utility monitoring.

Business News Australia noted Thinxtra netted an investment of AUD5 million ($3.3 million) in a pre-IPO move in 2023.

Grant Thornton stated the administration move covers Thinxtra, Thinxtra Solutions and Thinxtra Network. This means subsidiaries in New Zealand and Hong Kong are not involved in the action, though the professional services company noted they could be included in any deal.

It pitched Thinxtra on an exclusive contract to provide Australia’s “only national, public, low-power 0G network and Soracom” mobile connectivity.

The IoT company works with companies spanning transport, utilities, retail, manufacturing, healthcare and smart infrastructure, and it generated revenue of AUD4.7 million in the year to end-June.