TeleSign To Go Public Via SPAC

Los Angeles-based TeleSign, which provides two factor authentication and other related services to businesses–which has been running as a unit of Belgian telecom firm Proximus–is going public via a SPAC, the companies said on Friday. The two said that TeleSign will be acquired by North Atlantic Acquisition Corporation (NAAC), in a deal worth $487M. The deal will value the new company at $1.3 billion. Telesign was acquired by Proximus back in 2017.