Kpler, a global provider of trade intelligence, has completed its acquisition of Spire Maritime, the maritime division of Spire Global, for approximately $241 million, according to the company's release.
The transaction, initially announced on November 13, 2024, includes an upfront payment of $233.5 million and an additional $7.5 million for services to be provided over a twelve-month period post-closing.
Mark Cunningham, CEO of Kpler, stated, "This milestone marks a significant step forward in Kpler’s mission to deliver decision-defining insights across the global trade sector. The addition of this high-quality data will unlock greater value for our customers and partners by providing increasingly comprehensive and timely insights into global trade flows. It’s about helping them navigate complexity, uncover opportunities, and make better decisions every day."
Spire Global indicated that the proceeds from the sale were used to retire all outstanding debt, with the remaining funds allocated for investment in near-term growth opportunities.
The acquisition is currently under review by the UK Competition and Markets Authority (CMA).
Kpler has stated that both entities will continue to operate independently until the CMA concludes its review.
Founded in 2014 by engineers François Cazor and Jean Maynier, Kpler emerged with a vision to bring transparency to opaque commodity markets through innovative data technology. Starting with a focus on LNG cargo tracking, the company rapidly expanded its coverage to over 40 distinct commodity markets, including gases, liquids, and dry bulk. Kpler has experienced significant growth, becoming profitable since its inception and expanding its team to over 600 employees across more than 35 nationalities.
Spire Maritime originated as the maritime-focused division of Spire Global, a company specializing in space-based data and analytics. Spire Global was founded with the aim of tracking global data sets using a large constellation of nanosatellites, covering maritime, aviation, and weather patterns. Spire Maritime has built a comprehensive Automatic Identification System (AIS) data stream through its proprietary satellite constellation, tracking over 600,000 vessels and 250,000 active vessels daily.