EnOcean GmbH Announces Plans To Bring Sustainable IoT Solutions Company To The Public Markets Via Transaction With Parabellum Acquisition Corp.
EnOcean GmbH (“EnOcean”), the pioneer of energy harvesting Internet-of-Things (“IoT”) devices and sensor-to-cloud solutions, and Parabellum Acquisition Corp. (NYSE:PRBM), a publicly traded special purpose acquisition company (“Parabellum”), announced today that they have entered into a definitive business combination agreement that will result in EnOcean becoming a publicly listed company subject to the closing. Upon closing of the transaction, the combined company will be named EnOcean Holdings, N.V. and be listed on the NYSE and trade under the new ticker symbol “SIOT”, or Sustainable IoT.
EnOcean has pioneered and is a leader in energy harvesting based IoT devices, devoted to commercial buildings and smart spaces. EnOcean has extensive OEM partnerships with over 300 customers and is a founding member of EnOcean Alliance, a non-profit international association of companies that enables and promotes interoperable eco-systems for smart homes, smart buildings and smart spaces with over 300 members. Further, EnOcean has, through its recently announced partnership with Aruba Networks, also developed an innovative cloud solution called IoTC, which represents EnOcean devices on the cloud by utilizing existing infrastructure of Aruba’s access points. EnOcean’s IoTC thereby enables the rollout of maintenance-free IoT devices for offices without the need of creating any new infrastructure, including additional gateways or access points. The business combination is expected to provide EnOcean with growth capital to expand deployment of its innovative technology and provide capital for strategic acquisitions.