Rumor ETAC

Uplive said to be discussing a deal with E.Merge Technology Acquisition

, Bloomberg

Asia Innovations Group Ltd., the startup that operates social platform Uplive, is in talks to go public through a merger with E.Merge Technology Acquisition Corp., according to people with knowledge of the matter. 

Any transaction is set to value the combined company at more than $2 billion, said one of the people, requesting anonymity discussing private negotiations. E.Merge is poised to begin formally canvassing PIPE, investors, for capital to support the transaction, some of the people said. Its company’s revenue more than doubled in 2021 to about $300 million, some of the people said. Terms aren’t finalized and it’s possible a deal is not consummated. 

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