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exactEarth to Be Acquired by Spire Global
- Client News
- September 14, 2021
Practices
Paul, Weiss is advising exactEarth Ltd. in its $161.2 million cash-and-stock sale to Spire Global, Inc., a leading global provider of space-based data, analytics and space services. Canada-based exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions.
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 $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 transaction is expected to close in the fourth quarter of 2021 or the first quarter of 2022, subject to customary closing conditions and regulatory approvals.
The Paul, Weiss team includes corporate partner Christopher Cummings; litigation partner Andrew Finch and counsel Jared Nagley; tax partner David Mayo; and antitrust counsel Marta Kelly.