Osborne Clarke advises Otonomo on its acquisition of The Floow, a leader in connected insurance technology

•    An Osborne Clarke team has advised on a flagship digitisation deal for the transport and automotive sector.

International legal practice Osborne Clarke has advised Otonomo, the mobility intelligence company, as it entered into a definitive agreement to acquire The Floow, a privately held company headquartered in Sheffield, United Kingdom, in a cash and stock deal valued at approximately $69 million, including a performance based earnout of up to $37.5 million. The transaction is still subject to regulatory approval. 

The Floow is a SaaS provider of connected insurance technology for major carriers globally. The combination of vehicle and mobile data from Otonomo and The Floow will be crucial to enabling innovative, usage based and behavioural based insurance products and to move from “detect and repair” to “predict and prevent” models to create safer, greener and smarter driving experiences for policy holders.  

Otonomo is building the preeminent mobility intelligence platform for powering the next generation of automotive, fleet, insurance, transportation, and mobility services. Otonomo’s cloud native platform uses artificial intelligence, sensor data and behavioural pattern mapping from more than 50 million accessible connected vehicles and more than 430 million accessible mobility end devices to provide the critical insights needed to optimize vehicle insurance, emergency services, mapping, traffic management, EV management, micro-mobility, predictive maintenance, and dozens of smart city solutions.

Partner Tom Try, Senior Associate Rav Sagar, Associate Katie Tait, and Trainee Solicitor Adam Nash from the Corporate team advised Otonomo. Partner Mathew Oliver and Associate Kirsty Poulton provided tax advice and Associate Director Dan Sharman and Trainee Solicitor Logan Kerr advised on incentives.

Osborne Clarke is a recognised industry leader in transport and automotive sector. With a fantastic roster of clients, its team advises on all aspects of established and emerging transport and mobility systems. This includes developments in technology, software and infrastructure; development of rail and transport solutions to support both the transition to net zero and the levelling up agenda; electric vehicles and the development of autonomous vehicles; and new fares, payment and ticketing systems. The team advises both on the emerging regulatory environment and on investment into innovative companies which are driving change.