Key benefits for Astrocast
The acquisition of Hiber is expected to bring a number of key benefits for Astrocast:
- It expands Astrocast’s distribution strategy by establishing a direct-to-end user sales channel
- It accelerates Astrocast’s OEM strategy by increasing the development of additional satellite-enabled IoT devices
- It expands Astrocast’s portfolio of products and services by adding the HiberHilo remote oil well monitoring solution and Hiber Easypulse asset tracking solution
- It adds coverage of the Americas region, based on Hiber’s access to L-band spectrum, through its agreement with Inmarsat. Astrocast has no plans to replace Inmarsat completely and intends to leverage this relationship to complement its offering.
- It brings onboard 50+ highly skilled and experienced IoT specialists, who have unique technical capabilities and understanding of customer IoT needs across multiple verticals
- It expands Astrocast’s sales team by adding Hiber’s sales force and creating cross-sell opportunities
- Since Hiber’s customers include ExxonMobil, Shell, Oil Search, NAM and ENI, the combined group will also have additional exposure to clients in the energy industry and the ability to support their transition to renewable energy production
Enhancing Astrocast’s sales and go-to-market strategy, and OEM strategy
In addition, Astrocast’s sales and go-to-market strategy will be expanded by adding a direct-to-market sales channel in select verticals. This will complement Astrocast’s existing partner sales strategy. Hiber’s expertise within oil & gas will enable Astrocast to further penetrate this market. By combining Astrocast and Hiber’s technical expertise, Astrocast will also be able to better leverage end-users and accelerate its OEM strategy.
Fabien Jordan, Astrocast’s CEO said the following about the acquisition: “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.”
Commenting on the impact of the transaction on Astrocast investors, Fabien Jordan added: “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.”
Roel Jansen, CEO of Hiber 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.”
Astrocast’s public offering on Euronext Growth Paris
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. It is also subject to customary closing conditions.