Security Software Firm Brivo Harbours Listing Ambitions Via SPAC Deal Worth $800M

  • Security software maker Brivo Inc is getting closer to getting listed via a special purpose acquisition company (SPAC) merger with Crown PropTech Acquisitions CPTKBloomberg reports.
  • The deal would value the combined entity at $800 million, including debt.
  • Brivo sells security technology and services, including access control and video surveillance, to property owners. Its cloud-based system safeguards enterprises, residential buildings, and properties like vacation rentals.
  • Brivo counts Amazon.com Inc's AMZN Whole Foods, Salesforce.com Inc CRM, fitness center Solidcore among its customers, the report added.
  • Former Barracuda Networks Inc CEO Dean Drako acquired Brivo in 2015 for $50 million.
  • Crown PropTech raised $276 million in February.
  • Price Action: CPTK shares closed higher by 0.10% at $9.78 on Tuesday.
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