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Wejo Group Limited and Virtuoso Acquisition Corp. announced two financing agreements to support their merger, allowing Wejo to become a publicly listed company. The agreements include a forward purchase with Apollo for up to
Wejo, a leader in connected vehicle data, highlights the significance of the Infrastructure and Jobs Act, which allocates approximately $1 trillion for U.S. infrastructure enhancement. This legislation presents a substantial opportunity for the connected mobility sector, aligning with Wejo's objective to tackle transportation challenges. Wejo's data platform, leveraging 17 billion data points from 11.9 million vehicles, positions it as a key player in supporting efficient roadway usage and infrastructure planning.
Wejo Limited has launched Wejo Studio, a web-based SaaS platform that harnesses connected vehicle data (CVD) to provide valuable insights into traffic and mobility trends. This platform simplifies data analyses for various organizations, enabling smarter decision-making without the complexity of handling large data sets. The initial products include Intersection Performance and Origin/Destination insights. The announcement follows significant interest in CVD, with key strategic investors involved as Wejo prepares for its business combination with Virtuoso Acquisition Corp (NASDAQ: VOSO).
Wejo Limited has launched Wejo Studio, a web-based SaaS platform designed to provide insights from connected vehicle data (CVD). This platform aims to democratize access to mobility trends for various organizations, enhancing decision-making across sectors like transportation, real estate, and logistics. Initial offerings include insights on Intersection Performance and Origin/Destination patterns. The announcement coincides with the pending business combination with Virtuoso Acquisition Corp. (NASDAQ: VOSO), expected to finalize later this year.
Wejo, a leader in connected vehicle data, will participate in Piper Sandler’s Global Technology Conference on September 13 and Citi’s Global Technology Conference on September 14. CEO Richard Barlow and CFO John Maxwell will showcase the company's mission to utilize vehicle data for enhanced mobility. Recently, Wejo announced a merger agreement with Virtuoso Acquisition Corp. (NASDAQ: VOSO), backed by a $100 million PIPE involving major investors like Palantir and General Motors. With over 16 billion data points collected daily from 11 million vehicles, Wejo aims to tap into a projected $600 billion market by 2030.
Wejo, a leader in connected vehicle data, has partnered with SMATS Traffic Solutions to enhance traffic data offerings. This collaboration leverages Wejo's connected vehicle data via the Adept™ service and SMATS's iNode™ analytics platform, enabling clients to access historical and real-time traffic data without extensive installations. Wejo's data covers 95% of U.S. roads, allowing for rapid data delivery—under 32 seconds. This partnership aims to improve roadway safety and efficiency as connected vehicles proliferate. Additionally, Wejo is in a business combination agreement with Virtuoso Acquisition Corp. (NASDAQ: VOSO).
Wejo Limited is entering a business combination with Virtuoso Acquisition Corp. (NASDAQ: VOSO) expected to close this year. The partnership with Microsoft aims to enhance connected vehicle data applications across various sectors, including automotive, insurance, and smart city solutions. Wejo has committed $125 million in PIPE financing, with additional investments from Microsoft and Sompo Holdings. This collaboration is set to drive innovation in the insurance industry and expand Wejo's presence in the APAC market. By leveraging Microsoft Azure, Wejo plans to enhance its mobility intelligence portfolio.
Virtuoso Acquisition Corp. (NASDAQ: VOSO) has confirmed compliance with Nasdaq Listing Rule 5250(c)(1) after submitting its Form 10-Q for Q1 2021. A letter from Nasdaq, received on June 16, 2021, reaffirmed this compliance. The Company is set to merge with Wejo Limited, a leader in connected vehicle data, with the transaction expected to close later in 2021. This merger represents a significant step for Virtuoso in expanding its business operations and reinforcing its market position.
Wejo Limited, a leader in connected vehicle data, will participate in the Inaugural Credit Suisse Mobility Start-up Forum on June 22, 2021. Founder and CEO Richard Barlow, along with CFO John Maxwell, will engage with investors to share the company's mission of transforming mobility through connected vehicle data. Wejo aggregates data from over 11 million vehicles and 44.4 billion journeys globally, aiming to create smarter, safer, and more sustainable solutions. For investor information, visit Wejo Investor Relations.
Virtuoso Acquisition Corp. (NASDAQ: VOSOU) announced it received a notice from Nasdaq due to the late filing of its Form 10-Q for Q1 2021. The delay stemmed from the Company needing to reassess the accounting treatment of outstanding warrants. Nasdaq has allowed a 60-day period to rectify this, with a filing due by July 28, 2021. Failure to comply may lead to suspension or delisting. The Company is working to file the report promptly. Any delisting could lower demand and market prices for its securities, affecting its planned merger with Wejo Limited.
