In response to shareholder questions about the value of its intellectual property and its potential market size, Addvalue Technologies on Wednesday released an internal valuation suggesting it was around S$123.0 million as of May 2017.
Addvalue said in the filing to SGX that it engaged EverEdge Global (NZ), an intangible asset specialist recognized by Singapore’s Intellectual Property Office, to review its IP assets for both its IDRS and non-IDRS businesses.
The valuation of S$123.0 million from EverEdge, which didn’t include any valuation of its human capital, was intended for management’s internal reference and wasn’t previously released, Addvalue said.
Addvalue also said the growth potential for the IDRS market was “tremendous” and had outgrown the expectations and assumptions used in the EverEdge valuation last year.
“The continuous line-up of partnerships which the group forged since August 2017 testified to the commercial tractions for the group’s IDRS products and services, which have not only gained momentum but also in intensity in recent months,” it said.
It added that it expected a few more IDRS contracts in the remainder of the current financial ending 31 March.
For the total potential market size, Addvalue referred to Euroconsult data, which estimated around 7,000 smallsats were due to be launched over the next decade, up six-fold from the 1,200 over the previous ten years.
In an August statement, Euroconsult estimated the 7,000 smallsats due for launch over 2018-2027 were valued at US$38 billion for satelitte manufacturing and launch, nearly quintupling decade-to-decade. It estimated the launch services of smallsats would generate US$16 billion over the next ten years.