On November 13, 2024, Spire Global, Inc. (NYSE: SPIR) announced the sale of its maritime business to Kpler for approximately $241 million USD (about $338 million CAD), with the transaction expected to close by the first quarter of 2025. The deal includes a $233.5 million USD purchase price and $7.5 million USD for post-closing services over 12 months, valuing the business at 5.8 times its trailing twelve-month revenue. Proceeds are intended to retire Spire's outstanding debt and fund growth initiatives, while the company retains its satellite network to continue serving aviation, weather, space services, and U.S. government maritime customers.

Spire Global maintains a presence in Canada, securing a CA$1.41 million contract in July 2024 to provide global automatic identification system (AIS) ship-tracking data to Canadian government agencies. Kpler also operates in Canada, supporting commodity markets and recruiting local talent.

Osler, Hoskin & Harcourt LLP advised Spire, with a team led by Alex Gorka, Kevin Feng, Emery White,  Alan Kenigsberg, Chelsea Rubin, Shaun Parker, Abigail Omale, David Davachi, Taylor Cao, Sean Timlick, and Sam Ip and Jordan Geist. Evercore served as Spire's financial advisor, with additional legal counsel from Faegre Drinker. Kpler was represented by Cooley LLP.