Smart-lock platform Latch, Inc. and TS Innovation Acquisitions Corp, a publicly traded special purpose acquisition company launched by Tishman Speyer, have agreed to a merger that will lead to Latch becoming a publicly listed company. The transaction values Latch at $1.56 billion
Founded in 2014 and led by CEO Luke Schoenfelder, Latch counts Tishman Speyer, Brookfield and other large owner-operators among its partners and investors. The New York City-based software-as-a-service company has booked more than 300,000 units across more than 35 states, including one in 10 apartments delivered in 2019.
Tishman Speyer CEO Rob Speyer said TSIA’s mission has been “to partner with a growing company; one with a great team, a strong and differentiated business model and the ability to scale quickly through our platform. As both a customer and early investor in Latch, I know Luke and his talented team check all of these boxes.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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