Faegre Drinker Advises Spire Global on its Agreement to Sell its Maritime Business to Kpler for $241 Million

A Faegre Drinker team led by corporate partner Brandon Mason advised Spire Global, a leading data and analytics company, in connection with entering into a definitive agreement to sell its maritime business to Kpler, a data and analytics platform for trade intelligence, for approximately $241 million.

Spire Global intends to use the proceeds of the sale to retire all outstanding debt and invest in near-term growth opportunities. The transaction consists of a $233.5 million purchase price and $7.5 million for services over a twelve-month period. The transaction is expected to close by the first quarter of 2025, subject to satisfying customary closing conditions.

The team led by Mason was also supported by corporate partners Jonathan Zimmerman, Kassendra Galindo, Griffin Foster, Matthew Levy, Sean FitzGerald and associates Cassidy Seamon, Jonathon Gunn, Vilena Nicolet, Tyler Romero, Ian Finley; labor and employment partners Dan Prokott and Alex Denny, and counsel Emma Vennesson; benefits and executive compensation partner Mark Rosenfeld; real estate partner Paul Moe; and intellectual property partner Robert Cannuscio. 

To read the full press release detailing the sale, click here.