Augsburg, April 26, 2024. tresmo GmbH, a software company based in Augsburg, has fallen into a crisis and is looking for an investor. Due to the difficult situation, an application for insolvency has been filed with the Augsburg district court. The court appointed lawyer Dr Alexander Zarzitzky from Anchor Rechtsanwaltsgesellschaft as provisional insolvency administrator.

tresmo has been developing customizable and cloud-based IoT solutions for device and machine manufacturers for over twelve years. The most important product is the smart product platform “IoT Cockpit”. This enables manufacturers of machines, devices and systems to network their products with customers and their own service. The cloud solution optimizes service and after sales for customers. Building on this, the software enables digital business and service models such as automated maintenance, pay-per-use and data analysis. Based on the platform, an individual expansion is also offered for customers. Customers are medium-sized companies. tresmo's turnover is in the low single-digit million range and the company currently employs 17 people.

Postponement of orders as the cause of the crisis

The main triggers for the crisis and tresmo's subsequent application for insolvency were unexpected delays and postponements of orders. In several cases, initially planned orders were postponed significantly, meaning that the expected sales could not be realized. Another reason for the postponement was the tense economic situation, which led to a delay in investments and the commissioning of service providers. Follow-up orders for tresmo that had already been negotiated verbally and scheduled were postponed for the same reasons. Potential new customers who had already signaled a high level of interest also postponed further talks for new orders by several months. The cost savings that were then immediately introduced were not sufficient to cover the resulting deficits.

Talks already underway with potential investors

Talks with potential investors or acquirers were already underway before the insolvency application was filed. However, these negotiations could not be concluded in time. “We are resuming the previous talks with investors and are also approaching other potential buyers. We want to finalize a solution for the continuation in a few weeks. The response so far has been very positive, as tresmo's product is well received on the market and there is a corresponding demand,” says tresmo Managing Director Thilo Wolter on the current status. Wage payments for the employees are secured by the insolvency money from the Federal Employment Agency. Business operations at tresmo have continued without restriction since the insolvency application was filed. “The team is very motivated and highly qualified. Despite the difficult situation, this is an important basis when it comes to finding a long-term solution for the company's future. Everyone is really pulling together here,” explains the provisional insolvency administrator Dr Alexander Zarzitzky.