Wejo Ltd., the British automotive-data startup backed by Normal Motors, is in talks to go public by way of a merger with Virtuoso Acquisition Corp., a blank-check firm, folks with data of the matter stated.

Virtuoso is searching for to boost new fairness to assist a transaction with a mixed enterprise worth of greater than $1 billion, in accordance with one of many folks, who requested to not be recognized discussing non-public negotiations. Phrases may change and, as with all transactions that aren’t but finalized, it’s potential the talks may collapse.

A consultant for Virtuoso declined to remark and Wejo didn’t instantly reply to requests for remark.

Based in 2014 and led by CEO Richard Barlow, Wejo describes itself as a connected-vehicle information specialist. It says its expertise interprets info from greater than 10 million automobiles.

Along with GM, the corporate’s buyers embody Hella Ventures, Platina Companions, DIP Capital and the U.Okay. authorities’s Future Fund.

Wejo, primarily based in Manchester, England, with an workplace in Detroit, named John Maxwell CFO in March.

Virtuoso, led by CEO Jeffrey D. Warshaw and CFO Michael O. Driscoll — each executives at radio broadcaster Connoisseur Media –raised $230 million in a January preliminary public providing.

One other automotive information startup, Otonomo Applied sciences Ltd., agreed in February to go public by way of a merger with Software program Acquisition Group Inc. II.