Singapore’s Vertex Technology Acquisition will buy live streaming platform 17LIVE for up to S$925.1 million (about $676 million), the SPAC backed by state investor Temasek said on Monday.
The pro-forma equity value of the proposed deal will be up to S$1.16 billion, Reuters reports.
17LIVE had just over half a million average monthly active users in the first half of fiscal 2023 and counts Japan and Taiwan as its key markets.
It generated revenue of $363.7 million in 2022.
Vertex Technology Acquisition is the first blank-check firm to list on the Singapore Exchange. It raised about $125 million in a January 2022 IPO,
