Photo: Spire

Spire Global completed the sale of its maritime business to Belgian data and analytics company Kpler, using the proceeds to retire all outstanding debt, Spire announced April 25. 

Spire sold the business for $233.5 million, before adjustments, plus a $7.5 million agreement for services over a 12-month period. 

The sale includes Spire’s maritime AIS data tracking service, but does not include any part of Spire’s satellite network or operations. According to SEC filings, it includes contracts with maritime AIS customers and personnel for the business. The business was formerly known as exactEarth, which Spire acquired in 2021, and the sale includes equity of exactEarth.  

The U.K. Competition and Markets Authority (CMA) is still reviewing the transaction, according to a Kpler press release. Kpler said the maritime business will operate independently until the CMA’s review is complete. 

Kpler CEO Mark Cunningham said this acquisition will improve the company’s insights for the global trade sector. 

“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,” Cunningham said in a release. 

The deal was supposed to close during the first fiscal quarter of 2025, and Spire filed a complaint against Kpler earlier this year for not closing on the sale. Spire did not provide guidance for 2025 on its recent investor call because the sale had not yet closed.