Rhea-AI Summary
Matterport, Inc. and Gores Holdings VI have announced a definitive agreement for a business combination that will make Matterport a publicly listed company under the new ticker symbol MTTR. Matterport, a leader in spatial data technology, has a platform that creates 3D digital twins of physical spaces and boasts a growing library of over 10 billion square feet of space. The deal values the combined company at approximately $2.3 billion. Following the transaction, existing Matterport shareholders will own about 75% of the new company. The transaction is expected to close in Q2 2021, pending regulatory approvals.
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