This is real consolidation: Spire buys satellite-AIS provider exactEarth for $161.2M in cash, stock

by Peter B. de Selding

PARIS — Spire Global’s purchase of Canadian satellite-AIS provider exactEarth Ltd. is perhaps the first example of what industry observers have said would be a wave of space-sector consolidation by companies made flush with cash from SPAC IPOs or other private-sector investment.

Spire said the transaction is valued at $161.2 million in cash and stock, a 9.1x enterprise value to exactEarth’s revenue over the previous 12 months. ExactEarth will become a Spire subsidiary and continue to operate from Cambridge, Ontario.

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