Security

SPACS: The 800-pound Gorilla in the PropTech Room

In the same week in July, two more special purpose acquisition company (SPAC) mergers in the smart building security space wrestled with this alternative IPO approach. First, Crown Proptech Acquisitions failed in their attempted merger with access control firm Brivo after the deadline passed before they were able to raise the funds required. Then, 5 days later, Taiwanese video surveillance firm, Gorilla Technology, announced their entry to the Nasdaq exchange with a short-lived share price rise followed by a sharp decline that has drawn doubt over their future. There is growing concern around the SPAC approach. “SPAC deals rocketed to popularity as an under-the-radar way to take companies public after high-profile flameouts of traditional IPOs, such as WeWork’s in 2019. Years of cheap borrowing followed by government responses to the pandemic had kept capital markets flowing,” writes Orion Jones for The Real Deal in New York. “But a merky track record for SPAC investors combined with rule […]

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Security

Mapping the Strategic Direction of ADT Security

In this research note, we map the strategic direction of US security alarms and monitoring services provider ADT. This analysis focuses on the acquisition, investment and partnership moves they have made in Smart Home, Mobility and Connectivity / Cyber Security. ADT Reported revenues of $5.3 billion in 2021, They met or exceeded guidance from the […]

Smart Buildings

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Smart Buildings

Mapping the Strategic Direction of Johnson Controls – Part 1

This Research Note examines the emerging strategic priorities of Johnson Controls (JCI) in the smart buildings space. We have mapped acquisitions, divestments, strategic partnerships and investment activity to ascertain the growth ambitions of the group, by categorizing the various business relationships by technology and investment type over a 3-year period. This article, part 1 of a 2-part analysis, is intended […]

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