Brief: Otonomo To Acquire The Floow, A Leader In Connected Insurance Technology

Urgent.ly

28/02/2022 13:47

Feb 28 (Reuters) - Otonomo Technologies Ltd  OTMO.O :
    * OTONOMO TO ACQUIRE THE FLOOW, A LEADER IN CONNECTED
INSURANCE
TECHNOLOGY
    * OTONOMO TECHNOLOGIES LTD - CASH AND STOCK DEAL VALUED AT
APPROXIMATELY $69 MILLION
    * OTONOMO TECHNOLOGIES LTD - DEAL FOR APPROXIMATELY $69
MILLION,
INCLUDING A PERFORMANCE BASED EARNOUT OF UP TO $37.5 MILLION
    * OTONOMO TECHNOLOGIES LTD - AGGREGATE CASH AND STOCK
CONSIDERATION TO BE PAID AND ISSUED UPON CLOSING IS VALUED AT
$31.5 MILLION BASED ON A SHARE PRICE OF $2.75

Source text for Eikon:  ID:nGNX42z4Sq 
Further company coverage:  OTMO.O 

 ((Reuters.Briefs@thomsonreuters.com;))