French online music streaming service Deezer has reached a deal to go public via a merger with a special purpose acquisition company (SPAC), The Wall Street Journal reported on Monday.
Spotify Technology SA's rival aims to go public at a €1.05 billion valuation, which roughly translates into $1.13 billion, the report read.
The SPAC, named I2PO SA, is backed by the investors behind the France-based multinational corporation specializing in luxury goods, Kering SA.
