Wejo spac 330m wejo: Wejo is a predictive analytics company that specializes in collecting, analyzing, and interpreting real-time vehicle data. They operate out of the globe’s largest traffic network and have built the world’s largest connected vehicle telematics database.
The company has been privately held since 2006. Wejo plans to enter public markets via a SPAC merger with Criora Health, which will be renamed Wejo Inc with a publicly traded ticker symbol of WJHO. The merger is expected to close in Q3.
The SPAC is a new form of hybrid private/public company that has been gaining popularity in certain industries including healthcare, IT, and cloud-based security services.
Wejo’s real-time software enables consumers to monitor driving patterns and behavior via an on-board telematics device, or log into their account online to review the data. The company has been providing these solutions for more than a decade to consumers, dealers, and auto manufacturers in the U.S. and Europe.
The data that Wejo gathers from its network of connected vehicles is available to a wide range of businesses, including auto insurers, dealerships, finance companies, and auto OEMs. The company also collects data from non-automotive sectors such as delivery fleets and shuttle buses among others.
Wejo has operational headquarters in the U.S., and is listed on the OTC Markets under the ticker symbol WJHO. The company also maintains a research, development, and engineering center in Palo Alto, California. Wejo’s operating headquarters are located on the campus of Lehigh University in Bethlehem, Pennsylvania.
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