BETHESDA, Md., Feb. 10, 2022 /PRNewswire/ -- Brivo – the
global leader in cloud-based access control and smart building
technologies that recently entered into a definitive merger
agreement with Crown PropTech Acquisitions (NYSE: CPTK) – today
announced that its comprehensive enterprise security solution,
Brivo Access Enterprise Edition, is being used by some of the
biggest companies in retail, home services, and data, including
Afterpay and Angi.
![Brivo (PRNewsfoto/Brivo) Brivo (PRNewsfoto/Brivo)](https://mma.prnewswire.com/media/1690356/Brivo_Logo.jpg)
"Large enterprise organizations face unique challenges managing
their corporate facility footprint across multiple locations. Brivo
allows them to manage everything in one place. We help them
understand space utilization and occupancy trends across their
portfolio and how to enable the hybrid workplace. Our vast partner
ecosystem provides many options for add-on capabilities," said
Steve Van Till, Brivo's founder, and
CEO. "With more than 20 years of experience serving this industry
at scale, Brivo is the proven choice with an established track
record of cybersecurity that enterprises trust."
As businesses evaluate their physical security cloud technology,
full security ecosystems that span access control, mobile
management, mobile credentialing, video surveillance and identity
and visitor management are becoming an operational imperative.
Cloud technology allows building and property managers to bring all
of their physical security and cross-functional security systems
together to create an integrated, data-driven, technology-forward
platform. For enterprises that have multiple locations, Brivo's
cloud-based security technology allows them to manage more sites
and open more locations in this increasingly hybrid-first world.
Over 70,000 locations across 42 countries rely on Brivo's
enterprise security solution to achieve their objectives of
securing their employees, customers and visitors.
"Brivo's system goes beyond just access control and offers us a
complete enterprise solution," said TJ Garber, security manager at
Angi. "As someone who manages the program across multiple sites and
different states, we know we have a strong partner in Brivo for
reliable, accurate data and access control."
Liz Russell, workplace team lead
at Afterpay, added, "Since the pandemic, Afterpay has been trying
to tackle the task of occupancy tracking for our spaces. Brivo is
the only system that gives us accurate, raw data of who is actually
scanning into the space, which is now a very important metric that
we count on for reporting."
Brivo's enterprise security solution features several new
innovative technologies, including Brivo Snapshot and Anomaly
Detection. With Brivo Snapshot, customers can flip through a "photo
album" of single frames derived from a video associated with an
access event without having to watch a full 30-60 second recording
for each event. This enhancement saves customers an incredible
amount of time over the course of a day. Brivo Anomaly Detection's
AI engine learns the unique behavioral patterns of each person in
each property to develop a signature user and spatial profile,
which is continuously refined. This dynamic real-time picture of
behavioral changes complements static security protocols,
permissions and schedules.
Learn more about Brivo's enterprise solutions here. Click here
to learn more about the suite of Brivo solutions.
About Brivo
Brivo, Inc., created the cloud-based
access control and smart spaces technology category over 20 years
ago and remains the global leader serving commercial real estate,
multifamily residential and large distributed enterprises. The
company's comprehensive product ecosystem and open API provide
businesses with powerful digital tools to increase security
automation, elevate employee and tenant experience, and improve the
safety of all people and assets in the built environment. Brivo's
building access platform is now the digital foundation for the
largest collection of customer facilities in the world, occupying
over 300 million square feet across 42 countries. On November 10, 2021, Brivo entered into a
definitive merger agreement with Crown PropTech Acquisitions (NYSE:
CPTK) that will result in Brivo becoming a publicly listed company
on the New York Stock Exchange under the new ticker symbol "BRVS."
Additional information about the transaction can be viewed here:
www.brivo.com/about/investor-relations. Legal Disclaimer:
https://www.brivo.com/about/investor-relations/legal-disclaimer/.
This press release is provided for informational purposes only
and has been prepared to assist interested parties in making their
own evaluation with respect to a potential business combination
(the "proposed business combination") between Brivo, Inc. ("Brivo")
and Crown PropTech Acquisition Corp. ("Crown") and related
transactions and for no other purpose.
Forward Looking Statements
This press release
includes "forward-looking statements" within the meaning of the
"safe harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be
identified by the use of words such as "estimate," "plan,"
"project," "forecast," "intend," "will," "expect," "anticipate,"
"believe," "seek," "target" or other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
include, but are not limited to, statements regarding estimates and
forecasts of financial and performance metrics, projections of
market opportunity and market share, expectations and timing
related to commercial product launches, potential benefits of the
proposed business combination and the potential success of Brivo's
go-to-market strategy, and expectations related to the terms and
timing of the proposed business combination. These statements are
based on various assumptions, whether or not identified in this
press release, and on the current expectations of Brivo's and
Crown's management and are not predictions of actual performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, and must not be
relied on by any investor as, a guarantee, an assurance, a
prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and
will differ from assumptions. Many actual events and circumstances
are beyond the control of Brivo and Crown. These forward-looking
statements are subject to a number of risks and uncertainties,
including changes in domestic and foreign business, market,
financial, political and legal conditions; the inability of the
parties to successfully or timely consummate the proposed business
combination, including the risk that any required regulatory
approvals are not obtained, are delayed or are subject to
unanticipated conditions that could adversely affect the combined
company or the expected benefits of the proposed business
combination or that the approval of the shareholders of Crown or
Brivo is not obtained; the lack of third party valuation in
determining whether or not to pursue the proposed business
combination; failure to realize the anticipated benefits of the
proposed business combination; risks relating to the uncertainty of
the projected financial information with respect to Brivo; the risk
that the conditions to the financing for the proposed business
combination may not be satisfied or waived; the effect of the
announcement or pendency of the proposed business combination on
Brivo's business relationships, performance and business generally;
risks that the proposed business combination disrupts current plans
of Brivo and potential difficulties in Brivo employee retention as
a result of the proposed business combination; the ability to
implement business plans, forecasts and other expectations after
the completion of the proposed business combination, and identify
and realize additional opportunities; Brivo's ability to attract
and retain customers; the combined company's ability to up-sell and
cross-sell to customers, including the success of Brivo's
customers' development programs, which will drive future revenues;
the ability of the combined company to compete effectively and its
ability to manage growth; the amount of redemption requests made by
Crown's public shareholders; the ability of Crown or the combined
company to issue equity or equity-linked securities in connection
with the proposed business combination or in the future; the
outcome of any potential litigation, government and regulatory
proceedings, investigations and inquiries; the risk that the
combined company's securities will not be approved for listed on
the New York Stock Exchange or if approved, maintain the listing;
and those factors discussed in Crown's final prospectus dated
February 8, 2021 and Quarterly Report
on Form 10-Q for the quarter ended June 30,
2021, dated August 16, 2021,
and, when available, the preliminary proxy statement/prospectus of
Crown related to the proposed business combination, in each case,
under the heading "Risk Factors," and other documents of Crown
filed, or to be filed, with the Securities and Exchange Commission
("SEC"). If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that neither Crown nor Brivo presently know or
that Crown and Brivo currently believe are immaterial that could
also cause actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Crown's and Brivo's expectations, plans or forecasts of
future events and views as of the date of this presentation. Crown
and Brivo anticipate that subsequent events and developments will
cause Crown's and Brivo's assessments to change. However, while
Crown and Brivo may elect to update these forward-looking
statements at some point in the future, Crown and Brivo
specifically disclaim any obligation to do so. These
forward-looking statements should not be relied upon as
representing Crown's and Brivo's assessments as of any date
subsequent to the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking
statements.
Additional Information About the Proposed Business Combination
and Where To Find It
The proposed business combination will be submitted to shareholders
of Crown for their consideration. Crown has filed a registration
statement on Form S-4 (the "Registration Statement") and will file
amendments with the SEC which include preliminary and definitive
proxy statements to be distributed to Crown's shareholders in
connection with Crown's solicitation for proxies for the vote by
Crown's shareholders in connection with the proposed business
combination and other matters as described in the Registration
Statement, as well as the prospectus relating to the offer of the
securities to be issued to Brivo's shareholders in connection with
the completion of the proposed business combination. After the
Registration Statement has been filed and declared effective, Crown
will mail a definitive proxy statement and other relevant documents
to its shareholders as of the record date established for voting on
the proposed business combination. Crown's shareholders and other
interested persons are advised to read, once available, the
preliminary proxy statement / prospectus and any amendments thereto
and, once available, the definitive proxy statement / prospectus,
in connection with Crown's solicitation of proxies for its special
meeting of shareholders to be held to approve, among other things,
the proposed business combination, because these documents will
contain important information about Crown, Brivo and the proposed
business combination. Shareholders may also obtain a copy of the
preliminary or definitive proxy statement, once available, as well
as other documents filed with the SEC regarding the proposed
business combination and other documents filed with the SEC by
Crown, without charge, at the SEC's website located at www.sec.gov
or by directing a request to 667 Madison Avenue, 12th Floor,
New York, NY 10065, attention:
Nikki Sacks.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION
CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL
OFFENSE.
Participants in the Solicitation
Crown, Brivo and
certain of their respective directors, executive officers and other
members of management, employees and consultants may, under SEC
rules, be deemed to be participants in the solicitations of proxies
from Crown's shareholders in connection with the proposed business
combination. Information regarding the persons who may, under SEC
rules, be deemed participants in the solicitation of Crown's
shareholders in connection with the proposed business combination
will be set forth in Crown's proxy statement / prospectus when it
is filed with the SEC. You can find more information about Crown's
directors and executive officers in Crown's final prospectus dated
February 8, 2021 and filed with the
SEC on February 10, 2021. Additional
information regarding the participants in the proxy solicitation
and a description of their direct and indirect interests will be
included in the proxy statement / prospectus when it becomes
available. Shareholders, potential investors and other interested
persons should read the proxy statement / prospectus carefully when
it becomes available before making any voting or investment
decisions. You may obtain free copies of these documents from the
sources indicated above.
No Offer or Solicitation
This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any securities or a solicitation of any vote or approval, nor shall
there be any sale of securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such
jurisdiction.
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SOURCE Brivo / BAM