Rumor CPTK

Brivo said to go public via merger with Crown Proptech

, Yahoo finance

Brivo Inc., a maker of security software for buildings, is in advanced discussions to merge with Crown PropTech Acquisitions. A deal would value the combined entity at around $800 million including debt.

Founded in 1999, Bethesda, Maryland-based Brivo sells security technology and services including access control and video surveillance to property owners. Its cloud-based system is used to safeguard enterprises, residential buildings and properties such as vacation rentals. It counts Amazon.com Inc.’s Whole Foods, Salesforce.com Inc. and fitness center Solidcore among its customers, Brivo’s website showed.

Brivo was acquired by former Barracuda Networks Inc. chief executive officer Dean Drako in 2015 for $50 million.

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