Spire Global sues Kpler

Spire Global is suing Kpler, claiming the Belgian tech firm has failed to follow through on its plans to buy Spire Maritime, an AIS data provider. 

On November 13 last year, Spire Global entered into a share purchase agreement with Kpler to sell its maritime business. Since then, however, Kpler has failed to consummate the closing, Spire Global stated in a release. 

“Buyer has cited various reasons for declining to close, which the company has rejected,” Spire Global stated, revealing that it has filed a complaint in the Delaware Court of Chancery this week in a bid to get the deal done, warning shareholders that it faces significant debt problems if the Kpler acquisition fails to go through, something that has seen Spire Global’s share price tank in recent days. 

Kpler has made several noticeable acquisitions in recent years. Back in 2021, the company acquired New York-headquartered cargo data company ClipperData and last year it bought two well-known ship tracking brands, MarineTraffic and FleetMon.