This Research Note reviews workplace technology acquisitions in the commercial smart buildings space over the last 12 months. We highlight significant M&A transactions in integrated workplace management systems (IWMS), workplace experience apps, occupancy analytics, visitor management software and associated workplace hardware.
2023 saw 2 major consolidations in the workplace management sector led by US HVAC equipment firms, reflecting their desire to augment their respective portfolios with software-as-a-service businesses.
10 Notable Workplace Technology Acquisitions 2023
Johnson Controls / FM:Systems
Our Research Note examined what’s behind Johnson Controls’ acquisition of FM:Systems, a Raleigh, North Carolina-based digital workplace management and Internet of Things (IoT) solutions provider for facilities and real estate professionals, in July 2023.
Trane Technologies / Nuvolo
Our Research Note examined what’s behind the bolt-on acquisition of Nuvolo, the workplace management software company announced in October 2023 by Trane Technologies, the US HVAC equipment firm.
Jooxter/ Wx Solutions
Our Research Note examined Jooxter, a French occupancy data analytics startup and its May 2023 acquisition of Wx Solutions, part of Sodexo Group.
Accel-KKR / Appspace
In September 2023, Appspace closed a significant strategic growth investment from Accel-KKR. Although not strictly an acquisition, it is included here as a notable investment in a workplace experience platform offering digital signage, an employee app, a modern intranet, space reservation, and wayfinding solutions in a single platform to more than 160 Fortune 500 companies and over 10 million employees.
Equiem / SpaceOS
In May 2023, Australian Equiem, a vendor of commercial real estate tenant experience software, acquired European workplace technology software company, SpaceOS. Founded in Poland in 2016 and now headquartered in Dublin, Ireland, SpaceOS added 50 million square feet (4.6 million square metres) of space and expanded recurring software revenue by 20%.
Sign in Solutions / SCR Tracker and 10to8
In January 2023, Sign in Solutions, a portfolio company of US private equity firm PSG offering visitor check-in software, acquired SCR Tracker and 10to8. Both founded in the UK, these acquisitions offer cloud-based education compliance, scheduling and appointment management software.
OfficeSpace Software / Greetly
In May 2023, Greetly, a US visitor management platform, was acquired by OfficeSpace Software, part of Vista Equity Partners.
InVentry / Hipla Technologies
In July 2023, UK-based InVentry, a Sign in and Visitor Management technology company announced the acquisition of Singapore-based workplace technology solutions company, Hipla Technologies. This strategic acquisition will enhance InVentry’s portfolio, with plans for product line expansion and an enhanced marketing strategy for UK and international growth.
Biamp/ Evoko
In August 2023, Biamp, a US provider of professional audio-visual solutions for a wide array of commercial applications, acquired Evoko, a Swedish manufacturer of room booking and desk scheduling hardware and software designed to enhance productivity and streamline office operations.
Aukett Swanke / Anders & Kern
In July 2023, Anders & Kern, a UK workspace software and hardware distribution and technical support business, formerly part of SmartSpace Software plc, was acquired by Aukett Swanke, an architectural and interior design services provider. The firm said the acquisition is the first of several opportunities to broaden its expertise in the operation of smart buildings.
This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.