Latch, Maker of Smart Access Control Platform, Is Going Public
Latch, maker of the full-building enterprise software-as-a-service (SaaS) platform LatchOS, and TS Innovation Acquisitions Corp., a publicly traded special purpose acquisition company launched by leading real estate owner, developer, operator and investment manager Tishman Speyer Properties, announced that they have entered into a definitive merger agreement that will result in Latch becoming a publicly listed company. The transaction values Latch at $1.56 billion. Upon closing, Latch’s common stock is expected to trade on NASDAQ under the ticker symbol “LTCH”.
Founded in 2014, Latch is an enterprise SaaS provider to buildings and residents that makes spaces better places to live, work and visit. From the beginning, Latch has worked hand-in-hand with many of the country’s largest real estate owners as partners and investors including Tishman Speyer, Brookfield and more. Latch has booked over 300,000 units across more than 35 states, with one in ten new multifamily apartments in the United States built with Latch in 2019.