(Bloomberg) -- Braiin Ltd., an agriculture technology and analytic services company, has agreed to go public through a $215 million merger with a blank-check firm.

The transaction with Northern Revival Acquisition Corp. is expected to be completed in the second or third quarter, according to a statement.

“This business combination and entry into the public markets will allow us access to a much larger pool of capital and increase the awareness and adoption of our products and services to expand the practice of precision agriculture around the world,” Braiin Chief Executive Officer Natraj Balasubramanian said.

The Australia-based company, with offices in six countries and more than 300 employees, provides end-to-end solutions to improve farming productivity using the internet of things, robotics, software and artificial intelligence. The technology helps farmers increase their yields by 20% to 25%, according to the company.

Northern Revival Acquisition, formerly known as Noble Rock Acquisition Corp., raised $241.5 million in its initial public offering in 2021, at the peak of the boom in special purpose acquisition companies. The size and total value of SPAC mergers globally has shrunk since then, even as smaller transactions have continued largely apace, according to data compiled by Bloomberg.

This year, 50 such deals totaling $4.1 billion have been announced, an increase over the 20 transactions for $3.6 billion during the same period last year. At this point in 2021, though, there were 73 transactions for a combined total of more than $47 billion, the data show.

Loeb & Loeb provided legal advice to Northern Revival Acquisition. Winston & Strawn served as legal adviser to Braiin. 

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