Astrocast, a Swiss-based nanosatellite IoT network operator, announced on Monday that it has signed an agreement to acquire Amsterdam-based IoT spacetech startup Hiber.
According to the statement, “Astrocast agreed to acquire all of Hiber’s shares in exchange for the issuance of new Astrocast shares, representing 16.5 per cent of Astrocast’s share capital, calculated prior to its previously announced public offering on Euronext Growth Paris. Hiber’s shareholders also agreed to invest €10.45M in Astrocast’s public offering.”
The acquisition is conditioned on the completion of Astrocast’s public offering on Euronext Growth Paris and is expected to close immediately following the public offering.
Why this acquisition?
This acquisition is expected to bring several benefits for Astrocast, says the company.
Hiber’s acquisition will accelerate Astrocast’s distribution strategy by establishing a direct-to-end user sales channel and its OEM strategy by increasing the development of additional satellite-enabled IoT devices.
Further, Astrocast will be able to expand its products and services by adding the HiberHilo remote oil well monitoring solution and Hiber Easypulse asset tracking solution to its portfolio.
Hiber’s acquisition will also enables Astrocast to on board 50+ highly skilled and experienced IoT specialists as well as gain access to L-band spectrum coverage in the Americas region.
As Hiber’s client list includes Exxon, Shell, and other oil companies, and the combined group will have unparalleled access to experts, who will be invaluable in helping support the transition to renewable energy production.
Astrocast will be further enhance its go-to-market strategy by adding a direct-to-market sales channel in select verticals. Hiber’s expertise within oil & gas will enable Astrocast to further penetrate this market.
Commenting on the impact of the transaction on Astrocast investors, Fabien Jordan, CEO says, “We’re excited about the positive implications of the transaction for our investors. With this acquisition, Astrocast will gain access to customer segments that we have historically had little traction with. These segments complement Astrocast’s current sales effort. In addition, this acquisition will strengthen financing opportunities for Astrocast, benefiting investors, and accelerating the total fundraising plan for Astrocast.”
Astrocast: What you need to know
Based out of Renens, Vaud, Switzerland, Astrocast develops tiny satellites that deliver internet access devices. The company offers services in various industries such as Agriculture & Livestock, Maritime, and Environment & Utilities to name a few.
The Astrocast network enables companies to monitor, track, and communicate with remote assets from anywhere in the world.
It relies on the L-band spectrum through a strategic alliance with Thuraya. The company has developed Astronode S, an ultra-low-power and miniaturised module compatible with an inexpensive L-band patch antennas, in collaboration with Airbus, CEA/LETI, and ESA.
Astrocast develops and tests all its products in-house, from the satellites to the terminals.
Fabien Jordan, Astrocast’s CEO says, “We’ve carefully monitored Hiber’s impressive shift in strategy over the past few years. Hiber is recognised as a powerful IoT scale-up within the market. Hiber’s focus on satellite-enabled IoT solutions, innovation, and production aligns with Astrocast’s strategic go-to-market priorities for 2022 and beyond. We’re excited to welcome Hiber to the growing Astrocast team.”
Hiber: What you need to know
Founded by Coen Janssen, Erik Wienk, Ernst Peter Hovinga, Laurens Groenendijk, and Maarten Engelen in 2016, Hiber offers end-to-end IoT solutions for remotely monitoring off-grid assets located anywhere in the world.
The company’s solutions include HiberHilo for oil and gas well monitoring, and HiberEasypulse for asset tracking and fleet monitoring in the transport, mining, construction, agriculture, and forestry industries.
In 2021, Hiber secured €26M in EU and private investment to expand the world’s first global IoT (Internet of Things) satellite network.
Roel Jansen, CEO of Hiber says, “Hiber brings IoT solutions to its customers located in the most remote locations on earth; we are democratising data for industries that previously did not have access to affordable and easy-to-use solutions via satellites. We are excited to join forces with Astrocast to continue developing and providing world-class IoT solutions that are unrivalled in service excellence and product innovation within the IoT space.”