Photo: Spire Global.

Spire Global plans to sell its maritime business to Kpler in a $241 million deal that will pay off all of the company’s debt. 

Kpler is a data and analytics platform for trade intelligence headquartered in Brussels, Belgium. The company plans to integrate Spire Maritime’s technology and automatic identification system (AIS) vessel tracking. 

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 U.S. government portion of its maritime customer portfolio.

Spire announced the deal on Wednesday and said the transaction consists of a $233.5 million purchase price and $7.5 million for services over a 12-month period after the deal closes. The purchase price values the portfolio at approximately 5.8 times the revenue generated by the business over the last twelve months. The transaction is expected to close by the first quarter of 2025

Spire CEO Peter Platzer said the sale allows Spire to hone in on the focus areas of tackling climate change and global security challenges. “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 said.