Data, analytics and space services provider Spire Global has entered into an agreement to sell its maritime business to Kpler, a data and analytics company focused on global trade. The transaction, worth approximately $241 million, is expected to close by the 1st quarter of 2025, Spire said Wednesday.
Transaction Details
Of the total transaction value, $233.5 million is the actual purchase price, which represents about nearly 6 times the revenue generated by the maritime business over the past 12 months. The remaining $7.5 million covers services over a 12-month period following the closing of the transaction.
Focusing on Spire’s Core Mission
The proceeds from the sale will be used by Spire to not only invest in near-term growth opportunities but also retire all outstanding debt.
Commenting on the sale, Spire CEO Peter Platzer said, “This move further focuses Spire on our core mission: helping humanity tackle climate change and global security challenges — two of the macrotrends driving the space economy.”
Following the sale, Spire will retain its maritime customer portfolio’s existing U.S. government portion, as well as its satellite network, technology and infrastructure. The company will also continue to serve its customers in the aviation, weather and space services sectors.
“We are now even better equipped with the resources, technology and experience to serve governments and commercial clients to fulfill their missions, whether through our advanced data solutions or empowering them with our sophisticated space services offering,” Platzer further commented.
Enhancing Kpler’s Satellite AIS
On the part of Kpler, company CEO Mark Cunningham said, “By acquiring Spire Maritime, we will materially improve our satellite [automatic identification system] offering which together with our comprehensive terrestrial AIS network, significantly enhances real-time visibility and analytics for the maritime and commodity markets.”
“This will provide our clients with a clearer view of developments across maritime and commodity markets, to support better decision-making in a globally interconnected economy,” Cunningham added.
