Newly listed small satellite constellation operator Spire Global is buying Canadian ship-tracking company exactEarth in its first major acquisition, inflating expectations of more space consolidation amid a surge of companies going public.
Spire is wading deeper into the ship-tracking business, challenging established competitors operating fleets of much bigger satellites.
Harris Corp. and Canada’s exactEarth are establishing a space-based constellation of more than 60 maritime-tracking sensors to enable government and commercial customers to pinpoint the location of ships around the world nearly instantaneously.
Satellite machine-to-machine and Internet of Things services provider Orbcomm Inc. on Aug. 4 reported double-digit increases in quarterly revenue and gross profit and said its recent agreement with a Chinese conglomerate could open a vast new market for the company.
A battle between two companies over what they thought would be a large contract with the Canadian government for satellite-based maritime surveillance turned out to be a contest for peanuts in which the winner appeared to suffer more than the loser.
Canadian satellite maritime surveillance data provider exactEarth Ltd. on Feb. 9 debuted as an independent company and will get an early indication of its competitiveness in the coming weeks when the Canadian government decides a large contract.
Satellite component builder Com Dev of Canada and partner Hisdesat of Spain are selling 40-45 percent of their jointly owned exactEarth space-based maritime surveillance company in an initial stock offering expected to yield 88 million Canadian dollars ($69.2 million).
The partnership between exactEarth of Canada and Harris Corp. of the United States to place maritime data-collection payloads on 58 Iridium Next low-orbiting satellites is structured so that each company benefits from the other’s commercial success, according to exactEarth.
Harris and exactEarth announced a partnership in which Harris will use exactEarth technology to mount ship-monitoring payloads on Iridium Next satellites.