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 CPTK, Bloomberg 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.