- Urgently, a U.S.-based provider of digital roadside and mobility assistance, on Thursday said it will acquire Otonomo Technologies ( NASDAQ: OTMO ) in an all-stock deal that would see it go public.
- "As a result of the transaction, Urgently expects that its shares of common stock will be listed under the ticker symbol 'ULY'," the companies said in a statement .
- Post closing of the deal, OTMO will be a unit of Urgently.
- Urgently and OTMO shareholders will own about 67% and 33%, respectively, of the combined company.
- Upon closing of the deal, holders of OTMO's shares will get common stock of Urgently.
- The deal is expected to close in Q3 2023.
- According to Urgently's website, the company has more than 50 customer partners and a service provider network of more than 80K towing and roadside professionals across North America.
- Urgently provides services such as towing, tire changing, gas delivery and jump starts.
- Urgently's 2022 revenue is estimated at more than $185M, up 25% Y/Y.
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Roadside assistance co Urgently to acquire Otonomo in deal that would see it go public