Context
Astrocast is a global pioneer in Satellite IoT connectivity which developed a nanosatellite constellation together with low-power modules to efficiently connect millions of IoT devices across the globe at a disruptive price.
On May 30th 2022, Astrocast agreed to acquire all of the shares in Hiber, a global provider of satellite-based asset monitoring and tracking solutions, 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. The acquisition is subject to customary, as well as specific financing condition precedents.
The acquisition of Hiber is expected to bring a number of key benefits for Astrocast, of which:
- Expand Astrocast’s distribution strategy by establishing a direct-to-end user sales channel, and accelerate Astrocast’s OEM strategy by increasing the development of additional satellite-enabled IoT devices
- Expand Astrocast’s portfolio of products and services by adding the HiberHilo remote oil well monitoring solution and Hiber Easypulse asset tracking solution
- Add access to the Americas region, based on Hiber’s access to L-band spectrum, through its agreement with Inmarsat
- Onboard 50+ highly skilled and experienced IoT specialists and sales force to create cross-sell opportunities
This marks a landmark transaction for Astrocast that positions the group as the most advanced player on the global IoT satellite market.
About Astrocast
Founded in 2014, Astrocast is a satellite operator deploying a disruptive global nanosatellite constellation to connect millions of IoT devices in remote areas at ultra-low cost.
Astrocast provides a low-power and very small satellite terminal which makes it possible to connect and track any devices at a fraction of the price of current satellite-based solutions, and with broader coverage than other terrestrial IoT alternatives. Together with Airbus and CEA-Leti, the company has co-developed a specific chip and communication protocol based on L-Band, and has developed, in-house, its own satellite platform to further reduce infrastructure costs. The technology is proven, with 12 satellites already in orbit, and the company secured commercial access to the L-Band spectrum enabling IoT communication service across the globe.
With such an unprecedented offering, Astrocast is aiming to provide mass access to satellite telecommunication globally and notably in rural and remote areas. The company is also involved with NGOs and environmental companies to provide affordable solutions that could materially impact our environment and help to make better use of natural resources.
About Hiber
Founded in 2016 in the Netherlands, Hiber provides asset monitoring and tracking solutions to industrial customers, through satellite connected IoT devices that allow customers to monitor and track 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 data analytics
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to the Management of Astrocast, leading global IoT satellite operator, on its contemplated acquisition of Hiber
Bryan, Garnier & Co acts as Sole Financial Advisor to Astrocast and its management on the contemplated acquisition of Hiber, a Netherlands-based, IoT-as-a-Service provider. The acquisition enhances the direct-to-market strategy, accelerates the OEM strategy and increases penetration within the energy and asset tracking markets.
Bryan, Garnier & Co assisted Astrocast throughout all the critical phases of the process including valuation, due diligences and negotiations of the transaction terms.
This marks another landmark transaction for Bryan, Garnier & Co’s technology practice and is a further demonstration of its expertise in strategic-led transactions.
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