Spire Global, a provider of space-based data and AIS vessel tracking services, has announced an agreement to a sell its maritime business to Kpler for approximately $241 million.
The transaction consists of a $233.5 million purchase price and $7.5 million for services over a twelve-month period, valuing the business at approximately 5.8x revenue over the last twelve months.
Spire will retain its satellite network, technology and infrastructure and will continue to serve its aviation, weather and space services customers, along with the existing US government portion of its maritime customer portfolio.
“By acquiring Spire Maritime, we will materially improve our satellite AIS offering which, together with our comprehensive terrestrial AIS network, significantly enhances real-time visibility and analytics for the maritime and commodity markets,” said Mark Cunningham, CEO of Kpler.
“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.”
Kpler has been on a spending spree in recent times, having acquired MarineTraffic and FleetMon, providers of global ship-tracking data and maritime analytics, in February 2023 before also purchasing ChartDesk in September of last year.
The Spire transaction is expected to close by the first quarter of 2025, subject to satisfying customary closing conditions.
