Software Firm Perfect to Go Public Through $1 Billion SPAC Deal

Perfect Corp., an Asian startup that makes software for the beauty and fashion industries, agreed a deal to go public by merging with U.S.-listed blank-check company Provident Acquisition Corp.

The transaction gives the business an enterprise value of about $1 billion, according to a statement confirming an earlier Bloomberg News report. The combined company plans to use the funds from the deal to enhance its augmented reality and artificial intelligence solutions, extend its market reach beyond beauty and fashion and to accelerate its global expansion.

Perfect, based in Taipei, is expected to receive as much as $335 million in ...