Swiss nanosatellite IoT network operator Astrocast, is to acquire Hiber, a Dutch IoT-as-a-Service provider.
Astrocast has agreed to acquire all of Hiber’s shares, and Hiber’s shareholders also agreed to invest €10.45m in Astrocast’s upcoming public offering.
Hiber provides asset monitoring and tracking solutions to industrial customers, through satellite-connected devices that allow customers to monitor and track assets in remote locations. Its services include wellhead monitoring for major oil and gas companies and asset tracking for off-grid worksites in sectors such as agriculture, forestry, and mining. Its business model is based on multi-year subscriptions covering sensors, network hardware, satellite connectivity and a dashboard.
The acquisition of Hiber expands Astrocast’s distribution strategy by establishing a direct-to-end user sales channel and ccelerates Astrocast’s OEM strategy by increasing the development of additional satellite-enabled IoT devices. It also expands Astrocast’s portfolio of products and services by adding the HiberHilo remote oil well monitoring solution and Hiber Easypulse asset tracking solution
The deal adds coverage of the Americas region, based on Hiber’s access to L-band spectrum, through its agreement with Inmarsat.
Over 50 highly skilled and experienced IoT specialists will join Astrocast, providing key technical capabilities and understanding of customer IoT needs across multiple verticals. Hiber’s customers include ExxonMobil, Shell, Oil Search, NAM and ENI.
“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,” said Fabien Jordan, CEO of Astrocast
“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,” he added.
“Hiber brings IoT solutions to its customers located in the most remote locations on earth; we are democratizing 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,” said Roel Jansen, CEO of Hiber
The acquisition is conditional on the completion of Astrocast’s public offering on Euronext Growth Paris and is expected to close immediately following the public offering. It is also subject to customary closing conditions.
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