Articles

This Research Note examines the major Johnson Controls UK businesses relating to building automation, fire and security systems, highlighting their latest financial data, year ending 30th September 2024.  It is based on the annual reports of 3 companies, Johnson Controls Building Efficiency (UK), Tyco Fire & Integrated Solutions (UK) and ADT Fire & Security.  We […]

This Research Note explores the acquisition of UK-based Spica Technologies Ltd (formerly owned by Nordomatic) by Hubstar Group Ltd, announced on 9th October 2025. We examine the Spica Technologies software offering before highlighting Hubstar’s strategy with 4 acquisitions to date and concluding with our view of the transaction. Spica Technologies Profile Spica Technologies is a […]

In this Research Note, we examine the building automation business of Delta Electronics, a Taiwanese public company. We review the current brand offerings, financial highlights, a recent significant deployment, and provide a Memoori view of this second-tier player, building on our coverage of their strategy last year. Building Automation Brands The building automation business has […]

This Research Note examines a report from Reuters that MRI Software is to be listed in an IPO or sold. We explore the development of the business over the last 10 years, since it was acquired by private equity owners, highlight their software acquisitions for commercial real estate applications addressing integrated workplace management, tenant experience […]

This Research Note examines Smartvatten, a Finnish specialist in water efficiency technology and expertise in Northern Europe. It updates our previous article in March 2024, covering Smartvatten’s solutions, key developments in 2024, sustainability partnerships and the September 2025 acquisition of LeakLook, a Finnish specialist in IoT-driven water monitoring for real estate. Smartvatten Profile Established in […]

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 […]

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. […]

Employee onboarding in the smart building tech sector presents significant challenges. New hires can arrive with IT backgrounds but lack industry-specific knowledge about the stakeholder ecosystem, market dynamics, and different commercial building types and their specific requirements. But what if your next hire could master smart building fundamentals in weeks, not months? What if they […]