Smart Buildings

3 Things We Learned About Smart Building SPACs in 2022

2021 was the “Year of the #SmartBuilding SPAC” when 9 companies completed a business combination. So what does that make 2022? We have analysed 17 companies, that fit our definition of a PropTech business, to determine what their financial performance looked like in 2022 and what we might expect to happen in 2023 and beyond. Our analysis consists of 11 companies that completed their SPAC business combination in the last 2 years (including one that has now filed for protection under chapter 11 in the US), 3 companies that failed to complete their business combination in 2022 and a further 3 that have one planned for 2023. The table below compares 3 financial metrics across these 11 public companies. The percentage change in their share price since the beginning of 2022, revenue through the first 3 quarters of 2022 and net profit in the same period. For fairness, we discluded Quanergy from the share price […]

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Most Popular Articles

Johnson Controls Tyco Merger
Smart Buildings

Johnson Controls + Tyco: Nearly 10 Years on from the $16.5B Mega Merger

Nearly 10 years after the merger between Johnson Controls and Tyco in 2016, the $16.5 billion deal stands as one of the most significant consolidation moves in the building technologies sector. Today, with the benefit of hindsight and financial data, we can evaluate whether this mega-merger achieved its ambitious objectives. The 2016 merger created a […]

Verdigris Energy Management 2025
Energy

Verdigris: Comprehensive Review of the Energy Management Platform in 2025

This Research Note takes an in-depth look at Verdigris, provider of a hardware-enabled SaaS energy management solution for commercial and industrial buildings. We examine the company offerings, disclosed funding, deployments, and partnerships before providing a Memoori view on the firm. Verdigris Profile Co-founded in 2010 by Mark Chung, CEO, Verdigris Technologies Inc. is headquartered at […]

Learnd Buy Build Strategy
Smart Buildings

learnd’s Strategic €48.5M Management Buyout Signals New Growth Phase

This Research Note examines learnd SE, a Luxembourg public company, which announced on 24th September 2025, that the founders have taken a majority stake and are to take the company private. We explore the transaction details, learnd’s history and buy and build strategy followed by the implications of the organizational change and a Memoori view. […]

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