Israeli auto-tech co Otonomo in SPAC merger talks - report
The Herzliya-based connected car data platform is in talks with Software Acquisition Group to list on Nasdaq, Bloomberg reports.
Israeli auto-tech company Otonomo is in talks to list on Nasdaq through a merger with special purpose acquisition company (SPAC) Software Acquisition Group Inc. II (Nasdaq: SAII), a person with knowledge of the matter has told Bloomberg.
Herzliya-based Otonomo has developed a data platform linked to 22 million connected cars through four billion data points. The data is used for emergency services, mapping, parking and predictive maintenance, and partners include BMW AG, Daimler AG, Mitsubishi Motors Corp. and Mercedes-Benz.