Astrocast, a Swiss-based nanosatellite IoT network operator, announced the acquisition of Hiber, an Amsterdam-based IoT space tech startup.
The acquisition is conditional on the completion of Astrocast's initial public offering on Euronext Growth Paris, and it is expected to close immediately after the initial public offering.
“We’ve carefully monitored Hiber’s impressive shift in strategy over the past few years. Hiber is recognized 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”, said Astrocast investor, Fabien Jordan.
According to the company, this acquisition will benefit Astrocast in a number of ways.
The acquisition of Hiber will accelerate Astrocast's distribution strategy by creating a direct-to-end-user sales channel, as well as its OEM strategy by increasing the development of additional satellite-enabled IoT devices.
Astrocast will also be able to broaden its product and service offerings by incorporating the HiberHilo remote oil well monitoring solution and the Hiber Easypulse asset tracking solution into its portfolio.
Astrocast will also be able to hire 50+ highly skilled and experienced IoT specialists as a result of the Hiber acquisition, as well as gain access to L-band spectrum coverage in the Americas.
Because Hiber's clients include Exxon, Shell, and other oil companies, the combined group will have unparalleled access to specialists who will be invaluable in helping with the transition to renewable energy production.
Astrocast's go-to-market strategy will be strengthened further by adding a direct-to-market sales channel in select verticals. Astrocast will be able to expand its market penetration thanks to Hiber's expertise in the oil and gas industry.
About Astrocast
Astrocast SA operates a world-class global nanosatellite IoT network, providing services in industries such as agriculture and livestock, maritime, environment, and utilities, to name a few. Companies can use the Astrocast network to monitor, track, and communicate with remote assets from anywhere. Through a strategic alliance with Thuraya, it relies on a superior L-band spectrum. Astrocast collaborated with Airbus, CEA/LETI, and ESA to develop Astronode S, ultra-low power and miniaturized module compatible with low-cost L-band patch antennas. Astrocast, founded in 2014 by a renowned team of experts, develops and tests all of its products in-house, from satellites to terminals. Astrocast is traded on the Euronext Growth Oslo exchange.
About Hiber
Hiber provides end-to-end IoT solutions for remotely monitoring off-grid assets located anywhere in the world, utilizing dependable, affordable satellite connectivity to assist customers in lowering costs, increasing safety, and increasing operational efficiency. HiberHilo is a solution for monitoring oil and gas wells, and HiberEasypulse is a solution for asset tracking and fleet management in the transportation, mining, construction, agriculture, and forestry industries.
Hiber was founded in 2016 and is headquartered in Amsterdam, the Netherlands. Hiber received €26 million in EU and private investment in 2021 and has been recognized as a leading European startup by Wired and Amazon Web Services.
