Spire Global Soars 10.53% on Maritime Business Sale

On April 28, 2025, Spire Global's stock surged by 10.53% in pre-market trading, reflecting significant investor interest and confidence in the company's recent strategic moves.

Spire Global recently completed the sale of its maritime business to Kpler for approximately $233.5 million, plus an additional $7.5 million agreement for services over a twelve-month period. This transaction allowed Spire to retire all outstanding debt and allocate the remaining proceeds towards near-term growth opportunities. The sale is expected to enhance Kpler's maritime data and analytics capabilities, providing more comprehensive insights into global trade flows.

Spire Global's strategic decision to divest its maritime business and focus on its core competencies in space-based data and analytics has been well-received by the market. The company's market capitalization as of April 2025 stands at $0.32 billion USD, positioning it as the world's 7405th most valuable company. This move is seen as a pivotal step in Spire's journey to streamline operations and invest in areas that promise higher growth potential.