TeleSign to go public via a merger with North Atlantic Acquisition in a $1.3bn deal.

TeleSign, a digital identity software solutions provider, agreed to go public via a merger with North Atlantic Acquisition, a SPAC, in a $1.3bn deal. Total capital raised to be up to approximately $487m including proceeds from North Atlantic Acquisition and a $108m PIPE from investor group led by SFPI-FPIM. Proximus, a current owner of TeleSign, is not selling shares and will own 66.5% of the combined company upon completion. "From fraud management, authentication and access management to secure CPaaS, TeleSign is a leader in these critical areas. This is a great business combination, and by facilitating TeleSign's intended introduction to public equity markets we can accelerate its next phase of growth, addressing the underserved digital identity and engagement space. This combination fits perfectly with our stated objectives and I look forward to serving on the board of the combined operating entity and partnering with the teams at TeleSign and Proximus," Gary Quin, NAAC CEO.