{"componentChunkName":"component---src-templates-blog-post-js","path":"/blog/auto-data-startup-wejo-in-talks-with-virtuoso-on-spac-merger-sources/","result":{"data":{"site":{"siteMetadata":{"title":"No Frills News"}},"contentfulNfnPost":{"postTitle":"Auto data startup Wejo in talks with Virtuoso on SPAC merger -sources","slug":"auto-data-startup-wejo-in-talks-with-virtuoso-on-spac-merger-sources","createdLocal":"2021-05-22 14:31:09.538246","publishDate":"2021-05-21 00:00:00","feedName":"Connected Car","sourceUrl":{"sourceUrl":"https://www.reuters.com/business/autos-transportation/auto-data-startup-wejo-talks-with-virtuoso-spac-merger-sources-2021-05-21/"},"postSummary":{"childMarkdownRemark":{"html":"<p>Wejo is in talks to go public through a reverse merger with blank-check company Virtuoso Acquisition Corp (VOSO.O) in a deal that would value the British connected car data start-up at more than $1 billion, two people familiar with the matter said.\nThe deal has not closed and terms could still change, according to the sources, who asked not to be identified.\nThe sides also have not closed a deal to raise funding from investors to support the deal, the sources said.\nOfficials with Virtuoso and Wejo, which is backed by General Motors Co(GM.N), could not immediately be reached to comment.\nOn Feb. 1, Wejo's Israeli rival Otonomo said it would go public in a SPAC merger with Software Acquisition Group Inc II (SAII.O).</p>"}}}},"pageContext":{"slug":"auto-data-startup-wejo-in-talks-with-virtuoso-on-spac-merger-sources"}}}