DNEG turned some heads Thursday when it called off a $1.7 billion deal with an SPAC that would’ve taken the VFX giant public. But CEO Namit Malhotra says he’s not alone in recognizing that with the incredible volatility in the marketplace, taking such a step today just wouldn’t make sense.
“Why would we put ourselves in any harm’s way?… Our business couldn’t be better,” Malhotra told TheWrap Thursday. “Whether you’re an entertainment company or technology company, you’re gonna have to deal with the volatility of the capital market, and I think the writing’s on the wall. Because right now, there are no IPOs or SPACs or financing happening.