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Breaking the Glass Unicorn: View Inc. Files for Bankruptcy
April 16th, 2024The Competitive Landscape for AI in Commercial Buildings 2024
April 15th, 2024
SPIE Technical Facility Management Business 2024 Examined
This Research Note examines the French public company, SPIE and its focus on building solutions, which is one of four strategic markets that the group addresses in central and northern Europe. This article covers the Group’s fields of expertise, its development since 2013 through platform and bolt-on acquisitions and its expansion in the Netherlands, based on recent press releases, 2022 Universal Registration Document, SPIE profile and key figures. SPIE Profile As a leading independent European pure player in multi-technical services in the areas of energy and communications the Group reported 2023 revenues of €8.7 billion. SPIE relies on four fields of expertise, supporting its customers to design, build, operate, and maintain energy-efficient and environmentally friendly facilities. Mechanical and Electrical Services – 37% of 2023 revenues Technical Facility Management – 30% Information & Communications Technology Services – 18% Transmission & Distribution Services – 15% Profile & key figures | SPIE Regional Presence SPIE focuses its business […]
Infogrid Faces Lawsuit over 2022 Acquisition of Aquicore
Established in 2018, UK-based smart building firm Infogrid quickly made a splash in the market, picking up a range of high-value customers including banks, supermarkets, and restaurant chains, as well as the UK’s National Health Service (NHS) during the peak of the global pandemic. The firm has attracted $135.5m in investment (including debt financing) from JLL Spark, Spotify backers Northzone, and SoftBank’s Vision Fund (now known for backing several public failures like WeWork and Katerra), which triggered the firm’s CEO at the time, William Cowell de Gruchy, to claim the company was experiencing “epic growth” and was on track to hit $100 million in revenue in 2022. In November 2022, Infogrid announced the acquisition of US-based company Aquicore for what we now know to be $43 million, allowing them to expand into the large US real estate market. However, a lawsuit filed last month at the District Court of Delaware, claims that Infogrid didn’t have […]
Spacewell Smart Buildings Business & Financials 2023 Examined
In this Research Note, we examine Spacewell, part of the Manage segment of Nemetschek, which provides software for the management and operations phase in the building lifecycle. This article is based on their 2023 annual results, investor presentations, Annual Report of the parent company, published on 21st March 2024 and the group’s strategy in the smart buildings space. The Nemetschek Group, the No 1 Architecture, Engineering and Construction (AEC) software provider in Europe and one of the top three global AEC software vendors, is driving the digitalization of the building industry, through its portfolio of brands, including Allplan, Bluebeam, dRofus, GraphiSoft, Nevaris, Vectorworks and Solibri focused on BIM. Listed since 1999 and quoted on the Frankfurt Stock Exchange, the Munich-based company generated revenues of €851.6 million in 2023, an increase of 6.2% compared with the previous year. The Manage segment has two brands, Spacewell and Crem Solutions, which offer software solutions across all commercial processes […]
What’s Behind Identiv’s Move to Divest Physical Security Business to Vitaprotech?
This Research Note examines what’s behind Identiv’s latest move to divest its physical security business to European security solutions player, Vitaprotech. We review the new IoT business and the transaction details in the context of Identiv’s strategic review and 2023 financial performance, before exploring the implications for Vitaprotech. This article is based on Identiv’s Strategic Review Presentation, 3rd April 2024, 2023 results and supplementary analysis of the Vitaprotech group. New Identiv IoT Business Following a strategic review, Identiv has decided to divest its physical security business and focus on its IoT solutions business which is centred on RFID technology. Identiv Strategic Review Presentation, 3rd April 2024 Identiv expects to realign their growth strategy with a particular focus on healthcare-related segments and other high value-add opportunities for which they believe their technology can be both differentiated and transformational. As the healthcare industry and its providers advance their digital transformation, Identiv’s aim is to ensure that its […]
Belimo Building Controls Business & Financials 2023 Examined
In this Research Note, we examine the Belimo Group, based on their 2023 annual report, investor presentations and financial results announced on 4th March 2024 in the building automation field devices sector. This is an update to our previous coverage of Belimo’s growth strategy. Belimo Group, a listed company on the Swiss Stock Exchange, is headquartered in Hinwil, Switzerland with over 2,300 employees. The group is a market leader in field devices for the energy-efficient control of HVAC systems. The focus of their core business is on damper actuators, control valves, sensors and meters. Belimo Financial Highlights 2023 Belimo Media and Financial Analysts Conference Presentation, 4th March 2024 The company reported that Belimo pursued its long-term growth and investment strategy successfully throughout 2023. The most significant challenges came from a demanding economic environment leading to a slowdown of business momentum in the construction industry. Nevertheless, Belimo saw net sales grow 7.2% in local currencies and […]
Synectics Electronic Security Business & 2023 Financials Examined
In this Research Note, we examine Synectics plc, the listed UK provider of large-scale electronic security systems for critical and regulated environments. This article is based on their Annual Results, year ending 30 November 2023 announced on 27th February 2024, an InvestorMeet presentation on 29th February 2024, Annual Report 2023, and supplementary analysis. Based in Sheffield, UK, Synectics positions itself as a security and surveillance technology provider for specialist core markets, including gaming, oil and gas, public space, transport and critical infrastructure: In the gaming sector, Synectics’ software monitors and records over 150,000 channels in around 100 casino properties around the world. In the oil and gas sector, over the past decade, the company has supplied more than 10,000 COEX explosion-protected camera stations, safeguarding refineries, pipelines, offshore vessels and platforms for the likes of Saudi Aramco and Shell. In the transport sector, the Company delivers solutions for providers such as Deutsche Bahn, Stagecoach and Irish […]
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