BETHESDA, Md., Dec. 2, 2021 /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 it has surpassed 1 million Brivo Mobile Pass mobile
credentials worldwide. Mobile access credentials allow
people to open doors, gates, and turnstiles using just their
smartphone, which makes navigating spaces in offices, gyms,
garages, schools and other places in the built world more
convenient.
![Brivo (PRNewsfoto/Brivo) Brivo (PRNewsfoto/Brivo)](https://mma.prnewswire.com/media/1690356/Brivo_Logo.jpg)
"The accelerated growth we're seeing in mobile access control is
unlike anything we've seen in the industry to date and our
innovative smart access devices continue to be a key differentiator
enabling us to capitalize on this strong demand," said Steve Van Till, Founder and CEO of Brivo. "Being
able to open doors with your phone is the access experience
everyone wants these days. Brivo Mobile Pass gives customers an
easy way to quickly send digital credentials to anyone that needs
them. We believe it's an essential ingredient of a comprehensive
platform so that customers can do everything they want in a single
application."
Mobile credentials are enjoying growing success in the market
because they are more secure, easier to manage, and more
cost-effective. They are convenient because people have their
phones with them all the time, unlike physical cards or keyfobs
which are easily lost or forgotten. The pandemic has accelerated
mobile credential adoption by increasing the demand for a remote,
contactless way of enrolling new people into access control
systems. As a result, employers now view mobile credentials as an
important tool in their return-to-work transition strategy. In
addition to the convenience and safety benefits, the cybersecurity
of mobile credentials is a big draw for IT departments because it
is based on the same techniques they use for other corporate
information assets — encryption, multi-factor authentication, and
the built-in biometric capabilities of mobile platforms such as
FaceID or TouchID.
Customers and software partners have two options for using Brivo
mobile credentials. They can download the Brivo Mobile Pass
application directly from the App Store or Google Play, or use the
Brivo Mobile SDK to embed digital credentials into their own apps.
Many Brivo API partners use this approach to create a branded
access experience for their own customers or buildings.
"Brivo is such a huge part of our day-to-day operations as the
mobile credentials allow for us to operate virtually as a 24-hour
facility," said Robyn Powell,
Director of IT at HOTWORX, an international 24-hour fitness studio
franchise with over 300 locations. "We have been blown away with
the API integration and how seamlessly it works with our member
management systems."
Available on both iOS and Android, Brivo Mobile
Pass means no more lost keys, keycards or plastic fobs.
Employees, tenants, and residents can easily open doors with their
phones. Brivo Mobile Pass automatically finds the nearest door and
opens it through Bluetooth connection with Brivo Smart Readers.
Mobile access control also takes advantage of the latest iOS and
Android capabilities such as using voice commands and creating
shortcuts so users can customize their experience. With Brivo
Mobile Pass, people can move in and around physical spaces more
easily than ever before. Brivo's track record of innovation,
network of sales and service channel partners, and direct insights
into the needs of its customers across all classes of commercial
real estate have the company well positioned for continued
growth.
Learn more about Brivo Mobile Pass 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 intends to
file a registration statement on Form S-4 (the "Registration
Statement") with the SEC which will 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