Kpler has snapped up satellite-powered AIS ship tracking outfit Spire Maritime from its satellite-powered parent.
The trade analytics provider announced on Wednesday the acquisition, for which financial terms were not disclosed.
Executives at Kpler described the move as a boost to its existing data network.
Kpler chief executive Mark Cunningham said: “By acquiring Spire Maritime, we will materially improve our satellite AIS offering which together with our comprehensive terrestrial AIS network, significantly enhances real-time visibility and analytics for the maritime and commodity markets.
“This will provide our clients with a clearer view of developments across maritime and commodity markets, to support better decision-making in a globally interconnected economy.”
Executive chairman Francois Cazor added: “This acquisition not only provides us with high-quality data that enhances our ability to deliver maximum value to our clients, but it will also enable us to significantly expand our maritime business.
“We remain focused on reaching $1bn of ARR in the coming years, which will involve us expanding into new products and verticals, as well as pursuing strategic mergers and acquisitions.”
Spire Maritime parent Spire Global runs more than 100 satellites, used for everything from weather and climate forecasting to aviation and defense.
Spire Global chief executive Peter Platzer said the deal would help Spire Global focus on its mission to help fight climate change and tackle global security challenges.
“Now, we are even better equipped with the resources, technology, and experience to serve our customers, whether through our advanced data solutions or empowering them with our sophisticated space services offering,” he said.
