Spire Global, Inc. SPIR agreed to sell its maritime business to Kpler for roughly $241 million.

The deal includes a $233.5 million purchase price and $7.5 million allocated for services over the next twelve months post-closing. This valuation reflects roughly 5.8 times the revenue generated by the maritime business over the past year.

Peter Platzer, Spire CEO said, “We are now even better equipped with the resources, technology and experience to serve governments and commercial clients to fulfill their missions, whether through our advanced data solutions or empowering them with our sophisticated space services offering…In addition to these benefits for Spire, we expect this sale will benefit our maritime customers and team members by allowing our maritime business to grow even faster within a global organization leading the digitalization of the maritime industry,”

Spire shares gained 14.1% to close at $13.45 on Wednesday.

These analysts made changes to their price targets on Spire following earnings announcement.

Considering buying SPIR stock? Here’s what analysts think:

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