Scottsdale s SmartRent to go public in $2.2 billion SPAC merger
SmartRent
Posted at 10:07 AM, Apr 23, 2021
and last updated 2021-04-23 13:07:26-04
SmartRent, an apartment and home technology company based in Scottsdale, said Thursday that it will go public through a merger with a special purpose acquisition company, commonly known as a SPAC.
SmartRent makes smart-home products such as leak-detecting sensors, cloud-based access control panels, software to enable self-guided tours and in-ground sensors for parking management at apartment buildings.
The SPAC involved is Fifth Wall Acquisition Corp. I (Nasdaq: FWAA), which is part of Fifth Wall, a Los Angeles venture capital firm with a focus on real estate and property tech.