Swiss nanosatellite firm Astrocast has acquired Hiber, a Dutch IoT-as-a-service provider.

Hiber provides asset monitoring and tracking to industrial users through satellite-connected devices that enable the monitoring and tracking of assets in remote locations. Its services include wellhead monitoring for 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 is expected to expand Astrocast’s distribution strategy by establishing a direct-to-end user sales channel. It should accelerate 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 monitor and Easypulse asset tracker.

Coverage of the Americas region has been added, based on Hiber’s access to L-band spectrum, through its agreement with Inmarsat.

More than fifty Hiber IoT specialists will join Astrocast. These have technical capabilities and understanding of user IoT needs across multiple verticals. This also 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 have additional exposure to clients in the energy industry and the ability to support their transition to renewable energy production.

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 and gas will enable Astrocast to penetrate this market further. By adding Hiber’s technical expertise, Astrocast should be able to leverage end-users and accelerate its OEM strategy.

“We’ve carefully monitored Hiber’s impressive shift in strategy over the past few years,” said Fabien Jordan, Astrocast’s CEO. “Hiber is recognised as a powerful IoT scale-up within the market. Hiber’s focus on satellite-enabled IoT, 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. 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 to its customers located in the most remote locations on earth; we are democratising 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 that is unrivalled in service excellence and product innovation within the IoT space.”

Hiber offers end-to-end IoT for remotely monitoring off-grid assets located anywhere in the world using satellite connectivity to help users to reduce costs, increase safety and operational efficiency. Hiber was founded in 2016 and has its offices in Amsterdam. In 2021, Hiber secured €26m in EU and private investment.

Astrocast is to acquire all Hiber shares in exchange for the issuance of new Astrocast shares, representing 16.5% of Astrocast’s share capital. Hiber’s shareholders also agreed to invest €10.45m in Astrocast’s public offering. 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.