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Spire To Acquire Mogas And Omega Pipeline Systems

May 25, 2023over 2 years ago

Acquiring Company

Spire

Acquired Company

MOGAS Industries

ViennaHoustonInformation TechnologyManufacturing

Description

Spire Inc. (NYSE: SR) today announced it has entered into an agreement to acquire MoGas Pipeline (MoGas), an interstate natural gas pipeline, and Omega Pipeline (Omega), a connected gas distribution system, from CorEnergy Infrastructure Trust, Inc. (NYSE: CORR), for $175 million, subject to customary working capital and other closing adjustments. The transaction is expected to close in Spire's fiscal fourth quarter, pending Hart-Scott-Rodino review and subject to customary closing conditions.

Company Information

Company

Spire

Location

8000 Towers Crescent Drive

Vienna, Virginia, United States

About

Spire (NYSE: SPIR) is a global provider of space-based data, analytics and space services, offering unique datasets and powerful insights about Earth so that organizations can make decisions with confidence in a rapidly changing world. Spire builds, owns, and operates a fully deployed satellite constellation that observes the Earth in real time using radio frequency technology. The data acquired by Spire’s satellites provides global weather intelligence, ship and plane movements, and spoofing and jamming detection to better predict how their patterns impact economies, global security, business operations and the environment. Spire also offers Space as a Service solutions that empower customers to leverage its established infrastructure to put their business in space. Spire has nine offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed