Spire Global Inc., a provider of space-based data, analytics and space services, and exactEarth Ltd. have entered into a definitive arrangement agreement under which Spire will acquire exactEarth for approximately $161.2 million USD in cash and stock.

exactEarth will become a fully owned subsidiary of Spire and continue to operate from Cambridge, Ontario, Canada, under the leadership of exactEarth’s CEO Peter Mabson, reporting directly to Spire CEO Peter Platzer.

The combined company aims to be transformative for customers and the maritime industry. Bringing together real-time and historical space-based maritime data, Spire and exactEarth will provide customers with innovative solutions that drive the digitalization of the almost $2 trillion USD global maritime industry, such as better fleet visibility for more efficient routing, cost savings from reduced fuel consumption and a lower environmental footprint.

Learn more here.