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10 Nov 2021

Brivo in Discussions to Merge in New SPAC Deal with Crown Prop Tech

The Index Today

The world-renowned designer of security software for buildings, Brivo Inc., is planning to merge with Crown PropTech Acquisitions. Currently, both parties are engaging in discussions to finalize the merger deal which could value at $800 million.

The Maryland-based firm, Brivo, was founded in 1999 as a security software technology company. It was set up to provide services related to video surveillance for buildings and access control. However, over the years, Brivo has increased its product offerings through innovative measures and incorporates cloud-based systems for all kinds of buildings.

According to information present on Brivo’s website, it caters to large corporations including Amazon Inc, Solidcore, Salesforce.com and eve Whole Foods. Barracuda Networks Inc. CEO Dean Drako previously acquired Brivo for $50 million back in 2015. In current news, the company aims to merge with Crown PropTech which managed to raise $276 million earlier this year.

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