Key Takeaways:

• Perfect Corp. will become a privately held company and will be delisted from the New York Stock Exchange.
• The company signed a merger deal with ProjectNY, a firm controlled by Perfect Corp founder and CEO Alice H. Chang.
• The company went public in October 2022 through a SPAC deal with Provident Acquisition Corp. valued at $1.02 billion.

More than a decade after its founding and four years going public, Perfect Corp. is going private.

WHO: Founded in 2015, Perfect Corp. is a leading AI company offering self-developed AI- and AR-powered solutions dedicated to transforming the world with digital tech innovations that make your virtual world beautiful. On Perfect’s direct consumer business side, Perfect operates a family of YouCam consumer apps and web-editing services for photo, video, and camera users, centered on unleashing creativity with AI-driven features for creation, beautification, and enhancement. On the enterprise side, Perfect empowers beauty, skincare, fashion, jewelry, and watch brands and retailers by providing omnichannel shopping experiences through AR product try-ons and AI-powered skin diagnostics. With cutting-edge technologies such as generative AI, real-time facial and hand 3D AR rendering, and cloud solutions, Perfect enables a personalized, enjoyable, and engaging shopping journey and helps brands elevate customer engagement, increase conversion rates, and propel sales growth.

DETAILS:

• Perfect Corp. signed a merger agreement with ProjectNY, a business owned by Alice H. Chang, Perfect Corp.’s CEO.
• Perfect will become a privately held company and will be delisted from the New York Stock Exchange.
• As part of the deal, shareholders will receive...