Two well-known names in the space-based maritime data and analytics industry are combining. Spire Global is spending $161.2m to take over Canada’s exactEarth.
Once completed, exactEarth will become a fully owned subsidiary of Spire and continue to operate from Cambridge, Ontario, under the leadership of exactEarth’s CEO Peter Mabson, reporting directly to Spire CEO Peter Platzer.
“Peter and I share a vision about the opportunity for space-based maritime data and the digitalisation of the global maritime industry, and I look forward to pursuing that vision together,” said Platzer.
“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 US$2 trillion global maritime industry, such as better fleet visibility for more efficient routing, cost savings from reduced fuel consumption, and a lower environmental footprint,” the two companies stated in a release.
New York-listed Spire is a provider of space-based data, analytics, and space services, using one of the world’s largest multi-purpose satellite constellations to source data which is then enriched with predictive solutions.
ExactEarth, meanwhile, is a provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its formation in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite AIS and has delivered to its clients a view of maritime behaviours across all regions of the world’s oceans unrestricted by terrestrial limitations. exactEarth’s second-generation constellation, exactView RT, relays satellite-detected AIS vessel signals from any location on the earth’s surface to the ground enabling global real-time vessel tracking. This unique capability consists of 58 advanced satellite payloads hosted onboard the Iridium NEXT constellation of satellites.