In December 2020, Memoori posed the question “Will SPACs Offer an Alternative Exit Route for Companies in the Smart Buildings Space?”. The answer seems to be a resounding Yes! This research note highlights five of twelve SPAC (Special Purpose Acquisition Company) transactions in 2021, updating our view that this vehicle is gaining popularity as an alternative exit route.  Memoori analysis of the companies which have announced or completedSPAC mergers in the smart buildings space in 2021 to date indicates that five US firms using this route provide access control or electronic locking solutions for the commercial and residential sectors, confirming the attractiveness of this technology to investors.  The latest transaction to be announced was the public listing of Brivo, Inc., a supplier of cloud-based access control for commercial real estate, multifamily residential, and large distributed enterprises. Through a merger with Crown PropTech Acquisitions, a publicly traded special purpose acquisition company, the transaction values the company, at a pro forma enterprise value of […]