Hello, Guest!
  • Friday, April 19, 2024

Spire Global Closes exactEarth Buy for Maritime Data, Analytics Market Push

Spire Global (NYSE: SPIR) has closed its approximately $161.2 million cash-and-stock purchase of exactEarth, a provider of satellite data products and services to the global maritime sector.

Vienna, Virginia-based Spire first announced the deal in September, which marks its first acquisition after going public in mid-August, and the company said Tuesday its wholly owned indirect subsidiary in Canada bought outstanding exactEarth shares for $1.96 in cash and 0.1 share of Class A Spire common stock for each share held.

ExactEarth will stop trading on the Toronto Stock Exchange at the close of trading Thursday.

Spire expects the transaction to bring in annual recurring revenue of $18 million for the space data provider and plans to integrate the acquired entity’s historical automatic identification system database into product development efforts powered by artificial intelligence and machine learning.

Video of the Day

Related Articles

BlueVoyant Names Sebastian Sobolev as Product VP Executive Moves

BlueVoyant Names Sebastian Sobolev as Product VP

Sebastian Sobolev, a cybersecurity and data analytics professional, has been appointed vice president of product at New York-based cloud-native cyber defense platforms provider BlueVoyant. He announced his new position in a LinkedIn post published Thursday. Prior to his current position, Sobolev was chief technology officer at BlueVoyant’s government solutions business and was responsible for technology

Iridium Reports Q1 2024 Results, Completes 1st Ever Acquisition; Matt Desch Quoted Financial Reports

Iridium Reports Q1 2024 Results, Completes 1st Ever Acquisition; Matt Desch Quoted

Iridium Communications (Nasdaq: IRDM) presented its Q1 2024 financial results, in which total revenue reacched $203.9 million, although slightly lower by 0.7 percent from a year ago. Notably, the voice and data satellite communications provider’s net income increased 101.1 percent year-over-year to $19.65 million, while the subscriber base grew 7 percent compared to Q1 2023, Iridium said

L3Harris Books $187M USSF Space Surveillance System Maintenance Contract Contract Awards

L3Harris Books $187M USSF Space Surveillance System Maintenance Contract

L3Harris Technologies (NYSE: LHX) has secured a potential $187 million contract to continue helping the U.S. Space Force maintain and upgrade its space surveillance systems and command centers dedicated to providing space domain awareness for military and civilian users. The award exercises the option year five of the potential 10-year, $1.2 billion Maintenance Of Space