Articles

This Research Note explores the development and financial highlights of Hanwha Vision, formerly known as Hanwha Techwin, a video surveillance company listed on the South Korean stock exchange. This analysis is based on  Hanwha Vision’s Sustainability Report, 2nd July 2025, and Memoori analysis. Hanwha Vision Profile Headquartered in South Korea, Hanwha Techwin entered the video […]

This Research Note examines Allegion’s relationships with smart building startups over the last 6 years. We highlight recent startup acquisitions, venture capital investments, and strategic alliances which complement their predominantly mechanical security products and systems business. This article updates our previous Research Notes in March 2025 on Allegion’s strategic direction and our coverage of the […]

This Research Note examines Secom’s strategic acquisition of Singapore-based security systems integrator, Avtel, highlighting the transaction details, strategic rationale, global operations, and reported revenues of the target. We explore Secom’s expansion strategy and comment on its current and previous investments beyond Japan. Transaction Details & Strategic Rationale Secom Co. Ltd. announced on 25th July 2025 […]

In this Research Note, we examine what’s behind Legrand’s agreement to acquire a majority stake in Cogelec, a French specialist in access control. We explore the transaction details, Cogelec’s business model and current offerings, Legrand’s door entry systems, and the strategic rationale of the acquisition. Transaction Details On 9th July 2025, Legrand and Cogelec announced the signing of […]

In this Research Note, we examine Paxton Access, the UK-based private company manufacturing electronic IP access control and video door entry solutions. This article is based on their 2024 company accounts and press releases, updating our previous coverage of the company in December 2023. Paxton Company Profile Founded in Brighton, UK in 1985, Paxton has […]

In this Research Note, we explore what’s behind the recent announcement of Honeywell’s acquisition of Li-ion Tamar, examining the development of the lithium-ion battery gas detection business by Nexceris. We then assess the Fire & Life Safety product offering of Honeywell Building Automation and their solutions for the data center vertical market, enhanced by the […]

In this Research Note, we examine the Axis Communications video surveillance business. This analysis is based on Axis Communications 2024 Sustainability Report published in June 2025, Canon 2024 Financial Results Presentation, published 30th January 2025, and Memoori analysis. Founded in 1984 with headquarters in Lund, Sweden, Axis Communications offers products and services for video surveillance […]

This Research Note examines the fire detection and suppression businesses of Halma plc, part of the Safety Sector of the UK public company.  This analysis is based on financial releases, investor presentations, year ending 31 March 2025, announced on 12th June 2025, and Memoori analysis of the major companies and estimated revenue mix of the Fire Safety […]