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Spire Global ( (SPIR) ) just unveiled an update.
Spire Global, Inc. has agreed to sell its maritime business to Kpler Holding SA for around $241 million, aiming to eliminate its debt and invest in growth opportunities in data analytics and geolocation solutions. This transaction, expected to close by early 2025, is valued at approximately 5.8 times the business’s trailing twelve-month revenue. By retaining its satellite network, Spire aims to focus on addressing climate change and global security challenges. This strategic move is set to enhance Kpler’s real-time visibility and analytics in maritime and commodity markets.
See more insights into SPIR stock on TipRanks’ Stock Analysis page.