exactEarth continues its transition to an information and analytics company
Ontario-based exactEarth Ltd. announced on November 2 that it has taken steps to streamline and re-organize its business in order to enhance its data delivery, strengthen its sales capabilities and lower its cost base.
“With the deployment of our first-generation constellation nearly complete, we are now in a position to reduce our satellite infrastructure operating costs as we continue our transition to an information and intelligence data services company,” said Peter Mabson, CEO of exactEarth. “In turn, we will reinvest a portion of the savings into our sales and marketing efforts and the development of our new data analytics products. The net effect of these changes will be a broader service offering, increased sales effort and lower cost base.
“When fully-deployed, our second-generation satellite system, hosted on the IridiumNEXT constellation, will consist of 58 satellites providing near real-time global vessel tracking and update capability, which will enable us to deliver a wide range of enhanced data analytics-based information to customers. The operational requirements for that satellite constellation will be largely handled by our partner, Harris Corporation, which gives us the opportunity to shift more of our resources towards sales and marketing, and data and information product development. While we still await launch timelines for the IridiumNEXT constellation, we do not expect the current delay to have an adverse impact on our long-term performance.”
Within its sales organization, exactEarth has now added more customer-facing product sales specialists and has appointed senior-team leads for various verticals, such as small-vessel tracking and surveillance.
On the data infrastructure front, exactEarth has now completed its second-generation vessel information data system, which is integrated with the advanced analytics engine that the Company obtained through its alliance with Larus. This infrastructure will enable the development of a range of information and analytics data products the first of which are in beta phase with select customers now. The Company expects a formal market launch to occur during the first quarter of its fiscal year 2017.
Source: exactEarth Ltd.