Japanese Firm Aeterlink Acquires Assets of Bankrupt Startup CoreTigo
The Central District Court approved the sale of Israeli startup CoreTigo's IP and technology to Japan's Aeterlink Corp for $350,000 following liquidation.
The Central District Court has approved the sale of all assets, technology, and intellectual property of the Israeli startup CoreTigo to the Japanese firm Aeterlink Corp for $350,000. The decision follows the company's insolvency and entry into liquidation proceedings earlier this year.
Founded in 2017, CoreTigo developed advanced wireless communication systems for industrial machinery using the IO-Link Wireless standard. The company produced industrial-grade wireless communication solutions connecting factory computers with industrial products such as sensors, robotic arms, and motors, alongside specialized applications for packaging and sorting machinery.
According to court filings submitted by attorney Pini Yaniv from the Meitav law firm, CoreTigo raised approximately $45 million from strategic and financial investors, including Amazon, Qualcomm, Verizon, Lenovo, and Israeli institutional investors such as Meitav. The financial collapse stemmed from heavy reliance on a primary German sensor manufacturer, which accounted for roughly 50% of revenues. Following the crisis in the German automotive industry in 2025, the client repeatedly delayed orders, leaving CoreTigo without cash flow to meet debt obligations.
In January 2026, CoreTigo filed for opening proceedings, and in February, Judge Hanna Kitsis ordered its liquidation, appointing Adv. Gil Efrati as trustee. Following unsuccessful initial bids, the trustee negotiated directly with Aeterlink Corp, raising the offer to $350,000 for patents, IP, technology, and goodwill. Judge Kitsis approved the transaction last week.
Adv. Ofir Ronen, representing the employees, stated: "I welcome the agreement achieved through the trustee's efforts, and I will ensure that the relevant employees receive the remaining funds due to them up to the statutory preference ceiling, after already receiving their final payout from the National Insurance Institute, up to 134,966 shekels."
Trustee Adv. Gil Efrati stated: "We are pleased that after more than half a year of negotiations, the court approved the transaction. We chose not to rush and to attempt a sale of the company as a whole, despite the risks and costs. Ultimately, patience paid off, yielding significantly higher returns for creditors. We thank the Israel Innovation Authority for its cooperation and support."
