The companies announced the acquisition this morning. Astrocast issues new shares to finance the acquisition. Hiber’s shareholders are investing more than ten million euros in the buying party to help finance its growth plans. Astrocast put ten small satellites into orbit last year and hopes to have twenty by the end of 2022. That number should have risen to a hundred by 2024. Like Hiber, Astrocast sells IoT communications for business machine-to-machine applications. In practical terms, this means: monitoring industrial real estate, vehicles, maritime equipment, heavy equipment for the mining and oil industry and smart meters. With a small transmitter on board, all these types of objects can be read out via space for things such as status, location and occupancy. The Swiss are buying the Dutch company, among other things, because of their customer portfolio in the oil industry and mining, coverage in the USA and specialized workforce. The goal is to grow the turnover, which is still very small, to 150 million euros in four years. Astrocast is listed on the Euronext Growth exchange.
