Wejo and Virtuoso announced the completion of their previously announced merger.
In connection with the merger and related PIPE financing, it received approximately $225.7 million in cash proceeds. The connected vehicle data company looks forward to executing on its vision of building the manufacturer-agnostic industry standard in connected vehicle data by creating applications across multiple marketplaces and enriching lives around the globe.
Richard Barlow, Wejo’s Founder and CEO, will lead the combined company alongside the current Wejo management team. Timothy Lee, Co-Founder of the Hawksbill Group, and former GM senior executive will serve as Chairman of the Board of the combined company.
Additional members of the Board include Lawrence D. Burns, former Corporate Vice President of Research and Development at GM; Diarmid Ogilvy, Co-Founder of Wejo and Co-Founder and Managing Partner of ValuAnalysis; Samuel Hendel, Co-Founder of Dataminr; Ann Schwister, former Vice President and CFO of North America and Greater China at Procter & Gamble; and Alan Masarek, former CEO of Vonage.