Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and space services, completed the previously announced sale of its maritime business to Kpler for approximately $233.5 million, before adjustments, plus a $7.5 million agreement for services over a twelve-month period, post close. Spire used the proceeds of the sale to retire all outstanding debt. The remaining proceeds will be used to invest in near-term growth opportunities.
“This milestone marks a significant step forward in Kpler’s mission to deliver decision defining insights across the global trade sector,” said Mark Cunningham, CEO of Kpler. “The addition of this high quality data will unlock greater value for our customers and partners by providing increasingly comprehensive and timely insights into global trade flows. It’s about helping them navigate complexity, uncover opportunities, and make better decisions every day."
Kpler is working closely with the relevant regulatory authorities and in particular with the UK Competition and Markets Authority (CMA) in light of their review of the transaction. In the meantime, both businesses will continue to operate independently until the CMA’s review is complete.
