Urgently, Otonomo teaming up to create new mobility platform
US-based smart mobility assistance platform is planning to merge with Israel-based mobility intelligence company Otonomo to create a new platform for mobility, insurance, and other services.
The merger is expected by the third quarter of 2023 upon approval by Otonomo’s shareholders and other customary closing conditions, Fintech Global reported.
While Otomomo aggregates and enriches automotive data and transforms this into services such as energy usage insights, insurance, real-time weather updates, and others, Urgently combines location-based services, real-time data, AI and machine-to-machine communication to power roadside assistance solutions for automotive, insurance, telematics and other transportation related companies.
“The addition of Otonomo’s mobility data uniquely positions Urgently to capitalize on the connections between vehicle data and the fleet, insurance and roadside assistance sectors to provide real-world services that will improve customer experiences and safety,” says Urgently CEO Matt Booth.
The combined company, of which Urgently is expected to go public under the ticker symbol “ULY”, will power the present and future of connected mobility services, as well as create safe, customer-centric assistance services for automotive OEMs, insurance, rental and fleet partners and their customers.