Arrive Technology plans to go public through merger with Canadian toothbrush vendor
Arrive also acquires fellow smart mailbox provider AirBox Technologies to drive development of app-controlled package delivery systems
Arrive Technology Inc. today said it has acquired its fellow smart mailbox provider AirBox Technologies ahead of Arrive’s planned merger with the e-commerce electric toothbrush retailer Bruush Oral Care Inc.
Indianapolis-based Arrive said the deal will broaden its patent portfolio and propel its Smart Mailbox as a Service capabilities, helping to drive its stated goal of facilitating the last inch of the last-mile for autonomous delivery.
Terms of the deal were not disclosed, but the firms said that Falls Church, Virginia-based AirBox’s CEO Brandon Pargoe has now joined the Arrive team as vice president of product operations.
AirBox offers two smart solution products—Airbox Home and Airbox Deep—which both offer an app-controlled, industrial grade, web-connected package delivery solution. And Arrive says its high-tech mailbox system is designed for both autonomous and conventional package delivery.
The deal follows the news last week that Vancouver, BC-based Brüush and Arrive will merge in an all-stock transaction and operate under the name Arrive Technology Inc. with its shares listed on the Nasdaq Capital Market. The merger is expected to close in the first quarter of 2024.