Spire Global has completed the $241 million sale of its maritime business to Kpler, bringing to an end a troubled transaction that had seen Spire sue Kpler in a Delaware court over its failure to close the deal.
The proceeds of the sale, for approximately $233.5 million plus a $7.5 million services agreement over a twelve-month period following the close, have been used to retire all of Spire’s outstanding debt, the company said.
In its lawsuit in February, Spire said that it held approximately $19 million in cash and equivalents at the turn of the year, and that if the sale did not close it may not have sufficient funds to repay its debts, raising doubts about its “ability to continue as a going concern” into 2026.
Spire operates a satellite constellation collecting real-time Earth observation data, including ship and aircraft movements, weather intelligence, and spoofing and jamming detection services.
With the deal done, Kpler says it is now working with regulatory authorities, including the UK Competition and Markets Authority (CMA), which is reviewing the transaction. Both businesses will continue to operate independently until the CMA’s review is complete.
“This milestone marks a significant step forward in Kpler’s mission to deliver decision defining insights across the global trade sector,” said Kpler CEO Mark Cunningham.
“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.”
