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 award follows ICE's August withdrawal of a plan to give the same work to TRSS without competition after industry…
Before joining Aethon Security, Ricupero spent four years as an IT business analyst at DTS, focused on cybersecurity and projects.
SpaceX has secured a $946 million CCtCap contract modification from NASA for three additional crew missions to the space station.
Kristin St. Peter served as deputy general counsel and chief privacy officer, while Debra Emmons was VP and chief technology…
The base requirement covers four aircraft for the Coast Guard and CBP, with a solicitation estimated for July 2027.
OSINT has become essential for fighting counterespionage as data from platforms like social media make it hard to create cover…
Jeff Keen held multiple leadership roles during his five years at Applied Insight and more than 12 years at Axiom…
Empower AI received a task order with a $36.9 million face value, running through June 2027.
TechnoMile has named Anupriyo Chakravarti chief product and technology officer to lead its product, tech and engineering teams.
WWT has received a potential $500 million USPS contract to provide telecommunications hardware, software and network support.
CBP forecasts a need for maritime surveillance systems that include search radar, EO/IR cameras and AIS receivers.
The in-space mobility company holds a position on the Space Force's NSSL Phase 3 Lane 1 contract.
You’ve already read all related articles.
VIDEO 
