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)
The U.S. Air Force has awarded Boeing two contract modifications totaling $2.43 billion for work supporting the E-7A program. The Potomac…
The National Oceanic and Atmospheric Administration has released a draft request for proposals for its ProTech 2.0 professional services contracting…
L3Harris Technologies has appointed Sam Mehta as president of the space and mission systems, or SMS, and communications and spectrum dominance, or…
York Space Systems has acquired Orbion Space Technology as part of a push to expand its satellite propulsion capabilities and…
DCS has secured a $95 million contract from the Air Force Research Laboratory’s Multi-Domain Sensing Autonomy Division to provide analytical…
AIX Tech has received a Defense Health Agency contract worth $225 million to provide acquisition and administrative support services for…
Diffraqtion has closed another pre-seed funding round, pushing the company’s pre-seed financing valuation to over $100 million. What Technology Is…
company’sGoogle has completed its acquisition of cloud security company Wiz, bringing the New York-based cybersecurity platform into the Google Cloud…
Anduril Industries has agreed to acquire ExoAnalytic Solutions for an undisclosed sum as part of a push to expand its…
eSimplicity announced on LinkedIn Tuesday that Richard Smith has been appointed vice president and general manager of defense and national security. What…
NASA is inviting commercial launch providers to submit proposals for an on-ramp opportunity under its up to $15 billion Launch…
Empower AI has appointed Ryan Hopper as vice president and leader of its military services business unit as it continues…
You’ve already read all related articles.
VIDEO 
