Amazon-Backed Ecobee Said in Talks With Canaccord SPAC (1)

Ecobee Inc., a home automation startup backed by the Amazon Alexa Fund, is in talks to go public through a merger with blank-check firm Canaccord Genuity Growth II Corp., according to people with knowledge of the matter.

A transaction is set to value the combined company at about $490 million, including debt, said one of the people. The Canaccord special purpose acquisition company has discussed raising about $50 million in new equity to support the deal, though terms could still change, the person added. As with all deals that haven’t been finalized, talks could fall apart.

Representatives for ...