Nanosatellite developer Myriota has extended its reach in the Canadian market with the purchase of satellite communications assets from exactEarth Ltd.
The acquisition will see Myriota Canada acquire four satellites, a global network of ground station assets, and their associated spectrum licenses.
The acquisition will increase the Adelaide company’s capability to deliver low-cost, low-power, secure direct-to-orbit satellite connectivity for IoT.
exactEarth will be paid CA$600,000 for the assets, with a portion reinvested into equity in Myriota.
Myriota will also open its first North American office which will employ four exactEarth experts in satellite operations, satellite engineering and spectrum management.
CEO and co-founder of Myriota, Alex Grant, said that Myriota was accelerating its international expansion.
Grant said: “This acquisition…will add industry-leading capabilities in key areas such as satellite operations, engineering and spectrum management from an experienced team, and will fast-track our development with established ground facilities and ground stations.
“Canada’s geography, scale and economic footprint share many similarities to Australia; making it a perfect location for our team to grow and rollout our low-cost, secure direct-to-orbit satellite connectivity.”
The company will be able to provide 24-7 operations from its offices in Australia and Canada.
exactEarth’s CEO Peter Mabson will continue in his role as Chairman of Myriota’s board.
Mabson said: “The divestment of these non-core exactEarth satellite communication assets achieves several strategic and financial objectives as we position ourselves in-line with that of a pure-play data services business.”
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