Deals
Israeli Startup Otonomo Nearing Merger With Software SPAC
- Platform is fueled by data from more than 22 million vehicles
- Otonomo’s earlier investors include Bessemer, Avis, Maniv
Photographer: Patrick T. Fallon/Bloomberg
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Otonomo, an Israeli startup that operates a data platform linked to millions of connected cars, is in talks to go public through a merger with Software Acquisition Group Inc. II, according to a person with knowledge of the matter.
The special purpose acquisition company is in talks to raise new equity to support a transaction that could be announced as soon as next week, said the person, who requested anonymity because the information isn’t public. The deal size couldn’t immediately be learned and it’s possible that, as with any deal that isn’t finalized, talks could collapse.