Spire Global, Inc. Completes Acquisition of exactEarth Ltd.

  • Combined company is a global leader in the space-based maritime data and analytics Industry.
  • Spire gains approximately $18m ARR, 150+ customers, vast historical AIS database, and real-time data solutions.

VIENNA, Va. & CAMBRIDGE, Ontario (Spire Global PR) – Spire Global, Inc.. (NYSE: SPIR) (“Spire” or “the Company“), a leading provider of space-based data, analytics and space services, announced today it has successfully completed its previously announced acquisition of exactEarth Ltd. (TSX: XCT) (“exactEarth“), a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions, by way of a plan of arrangement (the “Arrangement”), following the completion of all closing conditions. The Arrangement, which was announced on September 14, 2021, was approved by exactEarth’s shareholders at a special meeting held on November 18, 2021 and exactEarth obtained a final order from the Ontario Superior Court of Justice (Commercial List) in respect of the Arrangement on November 22, 2021.

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exactEarth Obtains Final Order Approving Plan of Arrangement for Acquisition by Spire Global

CAMBRIDGE, ON (exactEarth PR) — exactEarth Ltd. (TSX: XCT) (“exactEarth” or the “Company”), a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions, is pleased to announce that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement previously announced on September 14, 2021 (the “Arrangement”) pursuant to which Spire Global, Inc. (NYSE: SPIR) (“Spire”) will acquire all of the issued and outstanding common shares of exactEarth (the “Shares”) through its wholly-owned indirect subsidiary Spire Global Canada Acquisition Corp. for CAD$2.5009 in cash and 0.1 of a share of Class A common stock of Spire for each Share held.

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Spire Global to Acquire exactEarth

VIENNA, Va. & CAMBRIDGE, Ontario (Spire Global PR) — Spire Global, Inc. (NYSE: SPIR), a leading provider of space-based data, analytics and space services, and exactEarth Ltd. (TSX: XCT) (“exactEarth”) announced today that the companies have entered into a definitive arrangement agreement under which Spire will acquire exactEarth for approximately US$161.2 million (CAD$204.2 million) in cash and stock, which implies ~9.1x exactEarth’s Enterprise Value to LTM revenue. Once completed, exactEarth will become a fully owned subsidiary of Spire and continue to operate from Cambridge, Ontario, Canada 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 digitalization of the global maritime industry, and I look forward to pursuing that vision together,” said Peter Platzer, Spire’s CEO. “I have great respect for the highly experienced team at exactEarth and am excited to continue driving this digital transformation together, serving more customers with a more robust data and solutions platform.”

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exactEarth Announces $6 Million Revolving Credit Facility from National Bank of Canada

CAMBRIDGE, ON, April 26, 2021 (exactEarth PR) – exactEarth Ltd. (“the Company”) (TSX: XCT), a leading provider of Satellite-AIS data services announces that it has entered into a new credit facility (“Credit Facility”) that provides for a $6 million secured revolving operating line with National Bank of Canada’s (“NBC”) Technology and Innovation Banking Group. The Credit Facility is undrawn as of today’s date.

“We are very pleased to partner with NBC on this important transaction and to further strengthen our financial foundation and flexibility,” said Sean Maybee, CFO at exactEarth. “This agreement is an important milestone that reflects the achievements we have made recently to generate strong revenue growth and positive Adjusted EBITDA, as well as confidence in our overall strategic outlook and growth potential.”

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exactEarth to Provide Advanced AIS Services for MDA’s Dark Vessel Detection Program

CAMBRIDGE, ON, March 3, 2021 (exactEarth PR) — exactEarth Ltd. (“the Company”) (TSX: XCT), announces that it has signed an agreement with MDA to provide advanced Satellite-AIS data services as part of MDA’s recently announced Dark Vessel Detection (“DVD”) program for the Government of Canada. The DVD program is intended to detect and identify vessels that have switched off their AIS transponders and are engaged in illegal, unreported and unregulated (“IUU”) fishing.

IUU fishing is a global problem that results in significant economic loss – estimated at $23 billion per year by the Department of Fisheries and Oceans Canada – and leads to considerable damage to the world’s fishing population and habitat. exactEarth is part of the MDA-led project that is supporting the Government of Canada’s commitment to help deter IUU fishing by using satellite technology to locate so-called “dark targets”, those whose AIS transponders have been switched off. Under the terms of its agreement with MDA, exactEarth will provide advanced global Satellite-AIS data services to support pilot trials of the DVD program.

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What’s On Board Vega Booster

The European Vega rocket that launched this evening was carrying 53 satellites on its first rideshare mission as part of the Small Spacecraft Mission Service Proof of Concept Flight.

The payloads included 14 Flock 4V Earth imaging satellites from Planet, 12 SpaceBEE Internet of Things spacecraft from Swarm Technologies, and 8 maritime monitoring satellites from Spire.

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exactEarth Announces $7.0 Million Expansion of Channel Partner Agreement

CAMBRIDGE, ON, July 6, 2020 (exactEarth PR)– exactEarth Ltd. (TSX:XCT) (“exactEarth” or the “Company”), a leading provider of Satellite-AIS data services announces an expanded alliance agreement (the “Amended Agreement”) with one of its existing channel partners (the “Partner”). All financial figures are in Canadian dollars unless otherwise stated.

The Amended Agreement extends the current agreement between the companies by three-and-a-half years through to December 2023. exactEarth estimates that this Amended Agreement will generate additional incremental revenues of approximately $7.0 million, or $2.0 million per year on an annualized basis.

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ESAIL Maritime Satellite Ready for Launch

The ESAIL satellite prior to encapsulation. (Credit: Arianespace)

KOUROU, French Guiana (ESA PR) — The ESAIL microsatellite for tracking ships worldwide – developed under an ESA Partnership Project – has completed its accommodation on Vega’s new dispenser for small satellites and is ready for launch. 

The Vega launch campaign at Europe’s spaceport in Kourou, French Guiana, resumed three weeks ago, following an interruption caused by the coronavirus pandemic.

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Myriota Raises $28 Million AUD Series B Round

ADELAIDE, Australia, 6 April 2020 — Myriota, the world leader in low-cost and low-power satellite connectivity for the Internet of Things (IoT), announced a $28 million AUD [$17 million USD] Series B funding round led by Hostplus and Main Sequence Ventures.

Additional investors include In-Q-Tel, Inc., Right Click Capital, the South Australian Venture Capital Fund, Singtel Innov8, Boeing HorizonX, and Malcolm Turnbull – who led the government that established the Australian space agency in 2017. This latest round of funding brings Myriota’s total funding to more than $50 million AUD [$30.4 million].

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Myriota Expands into Canada with Acquisition of exactEarth Satellites, Ground Stations

ADELAIDE, South Australia (Myriota PR) — Global leader in nanosatellite Internet of Things (IoT) connectivity, Myriota Canada (a wholly-owned subsidiary of Myriota Pty Ltd), has entered into an agreement with exactEarth Ltd. (TSX: XCT) to acquire satellite communications assets.

Significantly adding to its North American capability, the transaction, which is subject to Canadian regulatory approval, will see Myriota Canada acquire four satellites, a global network of ground station assets, and their associated spectrum licenses.

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exactEarth, Hisdesat Announce Multi-Year Contract with European Maritime Safety Agency

CAMBRIDGE, ON and MADRID , Jan. 13, 2020 (exactEarth/Hisdesat PR) — exactEarth Ltd. (“exactEarth” or the “Company”) (XCT:TSX) and Hisdesat announce that in partnership they have been selected by the European Maritime Safety Agency (“EMSA”) to provide satellite-AIS data services for a four-year period. All financial terms are in Canadian dollars unless otherwise stated.

Hisdesat, as prime contractor, will provide EMSA with exactView RT, exactEarth’s second-generation real-time satellite-AIS data service. Actual revenues under this framework contract will be determined by the task orders placed by EMSA, which is at their sole discretion, but based on their prior service expenditure history, exactEarth estimates that it could generate revenues of between $5.0 – $7.0 million for the Company over the life of the contract.

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Arianespace Fills Up Vega Small Spacecraft Mission Proof of Concept Flight

Vega begins its ascent from the Spaceport in French Guiana, carrying Italy’s PRISMA Earth observation satellite on the third Arianespace mission of 2019. (Credit: Arianespace)

PARIS (Avio PR) — Arianespace announced today that it has been selected by exactEarth to launch the ESAIL satellite using a Vega as part of the launcher’s Small Spacecraft Mission Service (SSMS) Proof of Concept (POC) flight.

With a mass of 110 kg, ESAIL satellite produced by exactEarth, leading provider of global AIS solutions (Automatic Identification System), is the last passenger to get on board of the Vega’s POC flight, now completely booked with 42 payloads onboard, whose launch is scheduled for 2019 from the Guiana Space Center, Europe’s Spaceport in Kourou, French Guiana.

The ESAIL satellite was supported by European Space Agency (ESA – ESTEC) through the ARTES 21 SAT-AIS (SATellite Automatic Identification System) program.

Vega’s POC flight will be the first mission for SSMS – a program initiated by ESA in 2016 with the contribution of the European Commission. For all European partners involved, its purpose is to perfectly address the burgeoning microsatellite market for both institutional and commercial needs with a new rideshare concept on the Vega light-lift launcher.

The industrial prime contractor for Vega is Avio, based in Colleferro, Italy.











exactEarth Launches Four Hosted Payloads on Iridium Satellite

exactEarth_solid_colorCAMBRIDGE, ON, Jan 16, 2017 (exactEarth PR) — exactEarth Ltd. (TSX: XCT), the leading provider of Satellite AIS data services, announced the successful launch of four hosted payloads for its next generation constellation, exactView™ RT powered by Harris.

Launched aboard an Iridium NEXT satellite on SpaceX’s Falcon 9 rocket from Vandenberg Air Force Base in California, these hosted maritime payloads are now being commissioned and are expected to be brought into service within the next four months.

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exactEarth to Provide India’s Navy with Satellite AIS

exactEarth_solid_colorCAMBRIDGE, ONT (exactEarth PR) – exactEarth Ltd. (TSX: XCT), announces that it has signed a contract with Antrix Corporation Ltd., the commercial arm of the Indian Space Research Organization, to provide Satellite-AIS data services to the Indian Navy. The three-year subscription revenue contract is valued at USD $1.75 million in total.

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exactEarth Awarded Project with UK Space Agency

exactEarth_solid_colorHARWELL, England (exactEarth PR) – exactEarth Europe Limited, a UK subsidiary of exactEarth Ltd (TSX: XCT), the leading provider of Satellite AIS data services, has been awarded a £1.1 million grant from the UK Space Agency (UKSA) under its ‘International Partnerships Programme’ (IPP). The IPP funding will support the operational deployment of exactEarth’s Satellite AIS-based small vessel tracking technology “exactTrax” to improve safety of life at sea (SOLAS) for South Africa’s small boat owners and operators – in particular the artisanal fishing sector. As such exactEarth Europe will be working closely on the project with the ‘South African Maritime Safety Authority’ (SAMSA) and South Africa’s ‘National Sea Rescue Institute’ (NSRI).

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