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Latham & Watkins Advises Innovid on deSPAC Merger With ION Acquisition Corp. 2 Ltd.

June 24, 2021
Innovid, the world’s largest independent ad delivery and measurement platform for connected TV, to become publicly listed at an implied US$1.3 billion valuation.

Innovid, the world’s largest independent ad delivery and measurement platform for connected TV, has announced it has entered into a definitive merger agreement with ION Acquisition Corp. 2 Ltd., a special purpose acquisition company. The transaction implies a pro forma valuation of approximately US$1.3 billion for Innovid. The combined company will operate under the Innovid name and will trade on the New York Stock Exchange. The transaction is expected to close in Q4 of 2021.

Latham & Watkins LLP represents Innovid in the deSPAC transaction with an M&A team led by New York partner Eyal Orgad and New York counsel Michael Vardanian, with New York associates Hancen Yu, Mack Weber, and Adam Weber, and a capital markets team by Washington, D.C. partner Jason Licht, New York partner Marc Jaffe, and London partner Joshua Kiernan, with Washington, D.C. associates Samuel Rettew and Thalia Garcia. Advice was also provided on tax matters by New York partner Jocelyn Noll, with New York associate Eric Kamerman; on intellectual property matters by Washington, D.C. partner Jeremy Wolsk, with Washington, D.C. associate Ryan Clore; and on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum.