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Spotify competitor Deezer closes a SPAC deal valued at about $1.1 billion

PARIS — French music-streaming service Deezer is merging with a special-purpose vehicle and is targeting an IPO at a valuation of 1.05 billion euros, or about $1.13 billion, the companies said.

The Paris-based competitor of Spotify Technology SA and other music streamers has 9.6 million subscribers and generated sales of 400 million euros in 2021, Deezer said in a statement. The music streaming service offers listeners a catalog of more than 90 million songs as well as podcasts, audio books and radio stations.

https://www.wsj.com/articles/spotify-rival-deezer-strikes-spac-deal-valuing-it-at-about-1-1-billion-11650297600?mod=rss_markets_main Spotify competitor Deezer closes a SPAC deal valued at about $1.1 billion

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