Spire Global has sold its maritime business to Belgian data and analytics firm Kpler for $233.5 million, plus an additional $7.5 million in service agreements over the next 12 months, the company announced on April 25. The proceeds from the sale were used to fully repay Spire’s outstanding debt.
The deal includes Spire’s maritime Automatic Identification System (AIS) data tracking services. However, it does not involve any part of Spire’s satellite infrastructure or operational systems. According to filings with the U.S. Securities and Exchange Commission (SEC), the transaction covers customer contracts and staff associated with the maritime segment. The business, previously known as exactEarth, was acquired by Spire in 2021, and the sale also includes exactEarth’s equity.
Although the deal has been finalized, the U.K.’s Competition and Markets Authority (CMA) is still reviewing the transaction. Until that review concludes, Kpler said the maritime business will continue to operate independently.
Kpler CEO Mark Cunningham said the acquisition will help the company deliver deeper insights into global trade. “This high-quality data will help our customers and partners make better decisions by offering more complete and timely views of trade flows,” Cunningham said in a press release.
The transaction was initially expected to close in the first fiscal quarter of 2025. Spire had previously filed a complaint against Kpler, alleging delays in the closing process. As a result, Spire withheld financial guidance for 2025 during its most recent investor call.
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