Carlyle-backed Packable agrees $1.55 billion SPAC merger

FILE PHOTO: A general view of the lobby outside the Carlyle Group offices in Washington, May 3, 2012. REUTERS/Jonathan Ernst/File Photo/File Photo

NEW YORK (Reuters) - Packable, a U.S. e-commerce firm backed by Carlyle Group Inc, said on Thursday it has agreed to merge with Highland Transcend Partners I Corp, a special purpose acquisition company (SPAC), in a deal that values the combined company at $1.55 billion.

The deal includes $180 million of private investment in public equity (PIPE) financing led by Fidelity Management & Research Company, with participation from Lugard Road Capital, Luxor Capital, Park West Asset Management and Morningside.