LAUSANNE, Switzerland, 30 May 2022 (Astrocast PR) – Astrocast, a leading global nanosatellite IoT network operator, today announced the signature of an agreement to acquire Hiber, a Netherlands-based, IoT-as-a-Service provider. Under the agreement, Astrocast agreed to acquire all of Hiber’s shares in exchange for the issuance of new Astrocast shares, representing 16.5% of Astrocast’s share capital, calculated prior to its previously announced public offering on Euronext Growth Paris. Hiber’s shareholders also agreed to invest €10.45 million in Astrocast’s 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.