Urgently, Inc. × Otonomo Technologies Ltd.
Urgently and Otonomo merged in an all-stock transaction, announced in February 2023 and closed in October 2023. [1, 3] No cash price was disclosed, but upon closing, Otonomo shareholders were to own approximately 39.7% of the combined company, which had an implied equity valuation of about $282 million. [4, 5] The deal combines Urgently's roadside assistance platform with Otonomo's extensive connected vehicle data. [1]
The asset
Merger in which Urgently acquired Otonomo, a platform that secures, normalizes, and enriches connected vehicle data. [1]
- 70M vehicles covered
The record
- Seller status
- Going concern
- Sector
- Automotive data services
- Modalities
- automotive data, telematics data, mobility data
- Jurisdiction
- US
What it means if you hold data
This merger highlights the strategic value of connected vehicle data in the mobility services sector, enabling the creation of proactive and preventative services by combining real-time vehicle data with assistance platforms. [1, 3]