Benzinga | Nov 10, 2021 05:40AM EST

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 (NYSE: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 (NASDAQ:AMZN) Whole Foods, Salesforce.com Inc (NYSE: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.