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This Research Note examines the acquisition of Nozomi Networks announced by Mitsubishi Electric on 9th September 2025. We explore the transaction details and strategic rationale before assessing their Serendie-related digital services businesses and the acquisition’s impact on the Iconics Digital Solutions subsidiary of Mitsubishi Electric. Tranaction Details On 9th September 2025, Nozomi Networks, a US startup in OT, IoT, and CPS security, and Mitsubishi Electric Corporation signed a definitive agreement whereby Mitsubishi Electric will acquire Nozomi Networks for US$ 883 million. Upon close, Nozomi Networks will be a wholly owned subsidiary, operating independently of Mitsubishi Electric. Nozomi Networks 2024 revenues were US$ 75 million, with a 2022 – 2024 CAGR of 33%. Investor Presentation, 09th September 2025 The transaction implies a 2024 revenue multiple of approximately 11.8x Mitsubishi Strategic Rationale By combining Mitsubishi Electric‘s strengths in the OT domain with Nozomi Networks’ security technology, they aim to become the global top OT security solution supplier […]

This Research Note examines Facilio, one of 11 startups founded in India gaining traction in the smart buildings space, previously highlighted in our Startups in Smart Buildings Report, published in January 2025. We review their Operations & Maintenance (O&M) platform, disclosed company funding, and unified building operations strategy before providing our own view of this approach. Facilio Profile Founded in 2017 in India by CEO, Prabhu Ramachandran (who we interviewed for our podcast in December 2023), Facilio provides a connected operations platform for smart buildings to gain visibility into portfolio-wide operations, maintenance, and sustainability performance. The startup is now headquartered in New York City with offices in Dubai, Chennai (India), UK, Australia, and Singapore, and a distributed workforce of over 250 employees. Currently, Facilio solutions are deployed in over 25,000 buildings. Enterprises in the commercial office, healthcare, and retail segments utilize Facilio across 150 million+ square feet globally to reduce operational costs, increase net asset […]

Commercial buildings are rapidly becoming software-defined assets. Cloud-based IoT platforms, expanding sensor networks and data-hungry applications are reshaping everything from HVAC and lighting to space utilization and tenant services. This digital shift promises measurable gains in sustainability and efficiency, but it also raises the stakes for networking, cybersecurity and lifecycle operations. What part will IT managed service providers play in the future smart building landscape? As the operational technology stack continues to converge with enterprise IT, some managed service providers are emerging as pivotal partners for owners, operators and corporate occupiers seeking outcomes rather than point solutions. IT managed service providers are structurally well placed to lead this transition. They already run critical infrastructure at scale, operate 24/7 support models, and enforce governance, risk and compliance in highly regulated environments. Extending these capabilities to the built environment means standardizing device onboarding, securing data pipelines from edge to cloud, and ensuring that upgrades and patches do […]

This subscriber-only video tutorial demonstrates how to create practical AI agents that streamline knowledge work in the smart building industry. It is the first in a series of subscriber-only videos that will be published, providing additional depth and value to our existing content. Rather than theoretical concepts, you’ll see three working examples, using Memoori Data that perform real-world business use cases. Building AI Agents with Workflow Automation Tools The video introduces powerful web applications like Relay, Zapier, and N8N that combine traditional automation with large language models (LLMs). These tools help bridge the gap between AI potential and practical daily applications. Larger organizations may not have access to these tools but could have access to Microsoft Power Automate or other enterprise-friendly solutions, whose approach balances innovation with corporate IT requirements. Three Live Demonstrations of AI Agents Research Note Writer – Automatically generates internal reports from simple ideas, pulling relevant context from your company’s knowledge base […]