Spire Global , a space-based data and analytics provider, will receive a convertible term loan worth $70 million from global investment firm Francisco Partners as part of a growth financing deal .
Spire CEO Peter Platzer said in a statement published Friday the financing will help the San Francisco-based company accelerate the deployment of intersatellite links designed to reduce data latency for customers.
“We expect this new technology will allow us to continue signing new customers and expanding the business relationships we have with our current customers to build on our 2020 successes,” Platzer added.
Francisco Partners will get a stock grant to become a shareholder in exchange for the term loan granted to Spire.
Spire announced in early March that it signed a merger agreement with special purpose acquisition company NavSight Holdings (NYSE: NSH) that would result in Spire becoming a publicly traded entity. The proposed transaction is expected to close in the summer of 2021.
In January, Francisco Partners completed the acquisition of cybersecurity platforms developer Forcepoint from Raytheon Technologies (NYSE: RTX)
Amentum CEO John Heller honored with Scouting America’s annual tech sector award at luncheon attended by top GovCon industry players
The Azimut.ai acquisition marks Windward's first move into proprietary ship-mounted and ground-based maritime sensors.
The former Aretum chief growth officer also held leadership roles at M9 Solutions, Capgemini and other federal contractors.
Concurrent Technologies Corp. will split its CFO responsibilities into two roles as John Klein retires.
The initial task order is worth $115 million, with Viasat serving as the network and mission system integrator.
IonQ's Elisity deal includes up to $150 million in additional consideration tied to revenue performance through January 2028.
Tiffany Yeager moves into the permanent post after leading the Leidos subsidiary in an acting capacity.
Intel has named Rob Gillis general manager of government go-to-market and sales, succeeding Greg Clifton.
Garrett Lee, a Broadcom regional VP, has outlined how federal agencies can use AI in cyber defense with governance and…
Garrett Lee, a Broadcom regional VP, has outlined how federal agencies can use AI in cyber defense with governance and…
NASA's awards include $460.9 million for Viasat, $340.4 million for Global Enterprise Solutions and $264.3 million for Astranis.
NASA's awards include $460.9 million for Viasat, $340.4 million for Global Enterprise Solutions and $264.3 million for Astranis.
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