Singapore AI firm Avanseus agrees to merge with Fat Projects SPAC

Photographer: Victor J. Blue/Bloomberg

AI-based predictive maintenance software firm Avanseus has agreed to merge with the Nasdaq-listed special purpose acquisition company (SPAC) Fat Projects Acquisition Corp.

The business combination agreement between the two Singapore-based companies would give Avanseus a pro forma enterprise value of approximately $135.7 million, according to an announcement.

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