Based on analysis from our latest research, Startups in Smart Buildings 2025, we examine M&A activity in the commercial buildings startups space. PitchBook has reported that M&A activity across all sectors in 2024 increased by 14% in volume and 19% in value YoY. In fact, deal activity reached its highest annual count ever, finishing with just over 45,000 deals. The commercial buildings space, broadly mirrored this trend with 2024 M&A activity increasing by 29% in volume to 197 acquisitions, of which 28% related to startups (companies founded since 2013). There were 56 acquisitions of startups in 2024, a number consistent with 2023 but down on the highs of 2021 and 2022. Of the 56 startup acquisitions in 2024: 21 transactions (37.5%) were for startups founded in North America. 33 transactions (59%) were for startups founded in EMEA. 2 transactions were for startups founded in Asia. Corporate buyers accounted for the majority while 6 deals were […]