DNEG and Sports Ventures Acquisition terminated a $1.7bn merger.

DNEG, a technology-enabled visual effects and animation company, and Sports Ventures Acquisition, a SPAC, terminated a $1.7bn merger. The deal included a fully committed $168m common stock PIPE from Sports Ventures, Novator Capital, Fairfax Financial and Arbor Financial. “Due to current SPAC and equity market conditions, it was mutually determined that the best option for all parties at this time is to terminate the transaction. Namit and his team are leaders in the market, producing stunning and award-winning work that swept the awards this year. DNEG has a bright future and we wish everyone there much success," lan Kestenbaum, Sports Ventures CEO and Chairman