LAUSANNE, Switzerland, 30 May, 2022 – 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.

The acquisition of Hiber is expected to bring a number of key benefits for Astrocast:

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.

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.”

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.

About Astrocast

Astrocast SA operates a leading global nanosatellite IoT network, offering services in industries such as Agriculture & Livestock, Maritime, 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 superior L-band spectrum through a strategic alliance with Thuraya. In partnership with Airbus, CEA/LETI and ESA, Astrocast developed Astronode S, an ultra-low power and miniaturized module compatible with inexpensive L-band patch antennas. Founded in 2014 by a renowned team of experts, Astrocast develops and tests all its products in-house, from the satellites to the terminals. Astrocast is listed on the Euronext Growth Oslo. For more information visit www.astrocast.com 

About Hiber

Hiber offers end-to-end IoT solutions for remotely monitoring off-grid assets located anywhere in the world using reliable, affordable satellite connectivity to help customers to reduce costs, increase safety and operational efficiency. Its 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. Hiber was founded in 2016 and has its office in Amsterdam in the Netherlands. In 2021, Hiber secured €26 million in EU and private investment, and has been recognised by Wired and Amazon Web Services as a leading European startup. Learn more at hiber.global.

Important information 

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Laurent Vieira de Mello, Chief Operating Officer, Astrocast SA, on may 30, 2022 at 8 am CEST.

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This announcement does not, and shall not, in any circumstances constitute an offering or an invitation in connection with any offer.

No communication and no information in respect of this transaction or of the Company may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such distribution would be unlawful or a registration, approval or other measure is required. The issuance, the subscription for or the purchase of the Company’s shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. The Company assumes no responsibility for any violation of any such restrictions by any person.

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