Advised Wejo, a leading data monetisation platform for connected cars, in relation to a strategic investment in the company
Arma Partners is pleased to announce that it has acted as exclusive financial adviser to wejo in relation to General Motors’ strategic investment in the company.
Headquartered in the UK, wejo is a leading global data monetisation platform for connected cars. wejo’s trusted and secure data exchange aggregates and standardises data received from OEMs for use by enterprise data purchasers across multiple sectors.
GM’s strategic investment, comprising both cash and a long-term data sharing agreement, values wejo at $275 million and results in GM acquiring a 35% stake in the company.
The transaction will drive wejo’s global expansion, bring new products to market and enable wejo to accelerate deployment of its solutions for global automotive OEMs and acquirers of connected car data in this fast-growing market
The transaction is a landmark in the emerging, and strategically important, connected vehicle data ecosystem. It strengthens further Arma Partners’ long-standing track record of structuring innovative deals for technology leaders in Europe and underscores Arma’s continued leadership in advising companies within the data, digital marketplaces and IoT segments.