MANCHESTER, England–(Business WIRE)–Wejo, a global leader in linked motor vehicle data, today introduced that it is taking part in Piper Sandler’s Global Technology Convention on Monday, September 13 and Citi’s Global Technology Meeting on Tuesday, September 14.
At the conferences, Wejo Founder and CEO Richard Barlow and CFO John Maxwell will explore the company’s mission to revolutionize the way we dwell, do the job and travel via connected motor vehicle information, as well as the company’s means to evaluate this details promptly and competently, and why its info is an invaluable device for a wide selection of organizations and organisations.
On Might 28, 2021, Wejo entered into a definitive merger settlement with Virtuoso Acquisition Corp. (NASDAQ:VOSO). The transaction, which bundled a completely fully commited $100 million PIPE integrated assistance from direct strategic buyers together with Palantir Technologies Inc. and General Motors, Microsoft, and Sompo Holdings of Japan.
Notable Wejo highlights incorporate:
- Wejo collects a lot more than 16 billion data details a day – across a network of 11 million autos
- Wejo’s information will come instantly from vehicles, and its cloud data platform, Wejo ADEPT, has numerous handy purposes, like analyzing website traffic patterns to minimizing congestion and increasing highway security, amongst numerous others.
- Wejo serves a increasing and diversified purchaser foundation that contains fleet and logistics firms, analysis establishments, mapping know-how sellers, car or truck suppliers, design and genuine estate corporations, as properly as DOTs and mobility companies like NCDOT.
- The complete amount of connected automobiles on the street is envisioned to triple this 10 years to 600 million, and the connected automobile data ecosystem itself is increasing promptly.
According to McKinsey, by 2030, somewhere around 95% of new vehicles marketed globally will be linked, up from close to 50% nowadays, and the international industry opportunity of the ensuing knowledge is estimated to arrive at $600 billion by 2030. Related cars are equipped with hundreds of sensors, every telling the story of the vehicle’s current condition and how it is employed. Superior conversation units then exchange unique auto, journey and geospatial information with individual smart gadgets, other vehicles, IoT products and transportation infrastructure, these as roadside visitors cupboards. As linked autos and sensible mobility infrastructure develop, along with the seamless circulation of facts among them, drivers will reward from improved protection and performance in the transportation network, from intersections to arterial and highways.
Wejo is a world chief in related car or truck information, revolutionizing the way we live, get the job done and journey by transforming and decoding historic and real-time motor vehicle facts. The firm permits smarter mobility by organizing trillions of facts details from more than 11 million vehicles and extra than 48 billion journeys globally, across various models, will make and designs, and then standardizing and maximizing these streams of info on a huge scale. Wejo partners with moral, like-minded businesses and companies to transform that knowledge into insights that unlock worth for shoppers. With the most comprehensive and dependable details, info and intelligence, Wejo is developing a smarter, safer, a lot more sustainable globe for all. Established in 2014, Wejo employs extra than 200 people today and has offices in Manchester in the British isles and in locations where Wejo does business enterprise close to the world. For extra info, take a look at: www.wejo.com.
Ahead-On the lookout Statements.
This interaction features “forward-on the lookout statements” in just the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-searching statements are presented for illustrative purposes only and are not meant to serve as, and need to not be relied on by any trader as, a assure, an assurance, a prediction or a definitive assertion of simple fact or likelihood. Virtuoso Acquisition Corp.’s (“Virtuoso”) and Wejo Limited’s, a non-public confined enterprise integrated beneath the laws of England and Wales with corporation variety 08813730 (“Wejo”) precise benefits might differ from their anticipations, estimates, and projections and, consequently, you should not count on these forward-searching statements as predictions of foreseeable future situations. Words and phrases these as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and very similar expressions (or the destructive variations of this sort of words and phrases or expressions) are meant to recognize this kind of ahead-hunting statements. These ahead-searching statements incorporate, without the need of limitation, Virtuoso’s and Wejo’s expectations with respect to long run effectiveness and expected financial impacts of the proposed small business combination, the satisfaction or waiver of the closing conditions to the proposed organization combination, and the timing of the completion of the proposed business enterprise mixture.
These ahead-looking statements entail considerable dangers and uncertainties that could bring about the precise results to differ materially, and possibly adversely, from those expressed or implied in the ahead-looking statements. Most of these things are outdoors Virtuoso’s and Wejo’s command and are tough to predict. Things that may perhaps bring about this kind of distinctions include, but are not constrained to: (i) the event of any occasion, transform, or other circumstances that could give rise to the termination of the Agreement and Prepare of Merger (the “Merger Arrangement”) (ii) the outcome of any lawful proceedings that may be instituted in opposition to Virtuoso, Wejo Group Restricted, a firm incorporated less than the guidelines of Bermuda (the “Corporation”) and/or Wejo adhering to the announcement of the Merger Agreement and the transactions contemplated therein (iii) the lack of ability to comprehensive the proposed small business mixture, which include owing to failure to get hold of approval of the stockholders of Virtuoso, specified regulatory approvals, or the gratification of other ailments to closing in the Merger Arrangement (iv) the incidence of any party, adjust, or other circumstance that could give increase to the termination of the Merger Arrangement or could usually trigger the transaction to fail to close (v) the impact of the COVID-19 pandemic on Wejo’s small business and/or the ability of the functions to entire the proposed organization mixture (vi) the lack of ability to get hold of or retain the listing of the Company’s widespread shares on the Nasdaq Stock Sector subsequent the proposed business enterprise combination (vii) the risk that the proposed organization blend disrupts present plans and operations as a outcome of the announcement and consummation of the proposed small business blend (viii) the means to acknowledge the expected rewards of the proposed organization blend, which could be affected by, between other items, competitors, the means of Wejo to grow and manage progress profitably, and keep its vital employees (ix) charges connected to the proposed business mixture (x) modifications in applicable laws or rules and (xi) the probability that Wejo, Virtuoso or the Company may possibly be adversely impacted by other financial, enterprise, and/or competitive elements. The foregoing list of components is not unique. Supplemental information relating to specified of these and other risk variables is contained in Virtuoso’s most recent filings with the SEC and is contained in the Company’s preliminary Variety S-4 (the “Variety S-4”), which was filed on July 16, 2021 (as amended on September 7, 2021), together with the preliminary proxy assertion/prospectus anticipated to be submitted in link with the proposed business enterprise blend. All subsequent penned and oral ahead-hunting statements regarding Virtuoso, Wejo or the Organization, the transactions described herein or other issues and attributable to Virtuoso, the Organization or any individual performing on their behalf are expressly capable in their entirety by the cautionary statements over. Visitors are cautioned not to area undue reliance upon any forward-on the lookout statements, which speak only as of the date designed. Every single of Virtuoso, Wejo and the Business expressly disclaims any obligations or endeavor to release publicly any updates or revisions to any ahead-seeking statements contained herein to mirror any alter in their expectations with regard thereto or any transform in situations, ailments, or conditions on which any statement is dependent, besides as necessary by regulation.
No Offer you or Solicitation.
This interaction is not a proxy assertion or solicitation of a proxy, consent, or authorization with regard to any securities or in respect of the proposed company combination and shall not constitute an offer you to provide or a solicitation of an offer you to obtain the securities of Virtuoso, the Enterprise or Wejo, nor shall there be any sale of any these kinds of securities in any condition or jurisdiction in which these provide, solicitation, or sale would be illegal prior to registration or qualification less than the securities laws of this kind of point out or jurisdiction. No supply of securities shall be designed besides by means of a prospectus conference the needs of Part 10 of the Securities Act of 1933, as amended, or exemptions therefrom.
Essential Details About the Proposed Organization Combination and In which to Obtain It.
In relationship with the proposed organization blend, a preliminary registration statement on Form S-4 was filed by the Company with the SEC on July 16, 2021 (as amended on September 7, 2021). The Kind S-4 involved preliminary proxy statements to be distributed to holders of Virtuoso’s typical inventory in relationship with Virtuoso’s solicitation for proxies for the vote by Virtuoso’s stockholders in relationship with the proposed business enterprise mix and other issues as described in the Type S-4, as well as a prospectus of the Corporation relating to the offer you of the securities to be issued in relationship with the completion of the small business mixture. Virtuoso, Wejo and the Organization urge traders, stockholders and other interested persons to examine the Type S-4, which includes the proxy statement/prospectus incorporated by reference therein, as nicely as other files filed with the SEC in connection with the proposed company mix, as these elements have essential facts about Wejo, Virtuoso, and the proposed company mix. These types of people can also browse Virtuoso’s final prospectus dated January 21, 2021 (SEC File No. 333-251781), for a description of the security holdings of Virtuoso’s officers and administrators and their respective interests as protection holders in the consummation of the proposed business enterprise mixture. Right after the Sort S-4 has been declared effective, the definitive proxy statement/prospectus will be mailed to Virtuoso’s stockholders as of a history date to be proven for voting on the proposed company combination. Stockholders will also be equipped to get hold of copies of these types of files, without the need of cost, at the SEC’s web page at www.sec.gov, or by directing a request to: Virtuoso Acquisition Corp., 180 Article Road East, Westport, CT 06880, or (203) 227-1978. These documents can also be obtained, devoid of charge, at the SEC’s net web-site (http://www.sec.gov).
Expense IN ANY SECURITIES Described HEREIN HAS NOT BEEN Permitted OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY Passed Upon OR ENDORSED THE Deserves OF THE Providing OR THE Precision OR ADEQUACY OF THE Details CONTAINED HEREIN. ANY Representation TO THE Opposite IS A Criminal OFFENSE.
Individuals in the Solicitation.
Virtuoso, Wejo, the Organization and their respective directors, government officers and other members of their management and workers, below SEC policies, could be deemed to be members in the solicitation of proxies of Virtuoso’s stockholders in connection with the proposed enterprise blend. Investors and safety holders could get hold of much more detailed information pertaining to the names, affiliations and pursuits of Virtuoso’s directors and govt officers in Virtuoso’s remaining prospectus dated January 21, 2021 (SEC File No. 333-251781), which was filed with the SEC on January 26, 2021. Information about the folks who may well, beneath SEC regulations, be considered members in the solicitation of proxies of Virtuoso’s stockholders in link with the proposed company mixture will be established forth in the proxy statement/prospectus for the proposed enterprise mixture when obtainable. Details regarding the pursuits of Virtuoso’s and Wejo’s participants in the solicitation, which may perhaps, in some instances, be various than those people of Virtuoso’s and Wejo’s equity holders frequently, will be established forth in the proxy statement/prospectus relating to the proposed business enterprise blend when it results in being available.