Access Control

Security

SPACS: The 800-pound Gorilla in the PropTech Room

August 9th, 2022
Security

Halma Fire & Security Business and 2022 Financials Examined

July 8th, 2022
Smart Buildings

The Growing IoT Divide in Commercial Real Estate

Major crises are like junctions in the road of our economic development. Be it a pandemic, a war, or a natural disaster, time slows down as all affected wait for the outcome of the crisis to decide which way to turn. During the early stages, the future is unknown, companies begin to reassess all their […]

Security

Alarm.com Connected Property Business and Financials Examined

In this Research Note, we examine Alarm.com, a US provider of physical security, intelligent automation and energy management solutions for the smart home and commercial real estate. This analysis is based on their 2021 and Q1-2022 financial results, 10K Report, investor presentations, M&A and diversification strategy. Alarm.com, founded in 2000, became a public company in June 2015 on Nasdaq under […]

Smart Buildings

Delta Building Automation Business and 2021 Financials Examined

In this Research Note, we examine Delta Electronics building automation business, based on their 2021 financial results, investor presentations, growth strategy and M&A. Delta Electronics is a Taiwanese manufacturer specializing in power and thermal management solutions. The group’s 2021 consolidated sales revenues were NT$314,671 million (USD 10.66 billion), an 11% increase as compared to 2020. The group has three reportable […]

Security

Motorola Solutions Continues Video Security Acquisition Spree in 2022

In this Research Note, we examine Motorola Solutions Video Security and Access Control business based on their Q1-2022 financial results, investor presentations and M&A. Our analysis of two recently acquired companies, Calipsa and Videotec, brings Motorola’s deal count up to eight acquisitions in this segment in less than four years. Motorola announced its Q1 results on 12 May 2022, […]

Security

Senstar Technologies Business and 2021 Financials Examined

In this Research Note, we examine Senstar Technologies perimeter protection business, based on their 2021 20F financial report, earnings call, investor presentations, acquisitions and divestments, vertical market focus and our analysis of their market positioning.  Senstar Technologies Ltd, a listed company on the US Nasdaq global market, based in Ramat Gan, Israel, is a provider of physical security hardware and software […]

Security

Exploring M&A Trends in the Physical Security Market

The total annual value of mergers and acquisitions (M&A) in the physical security industry over the last 15 years has been very volatile. In the peak years there was always at least one major acquisition, often two, with a value of between $2 billion and $16 billion, exaggerating the contrast with low-M&A trough years. While […]

Smart Buildings

Legrand Connected Buildings Business & 2021 Financials Examined

In this Research Note, we examine Legrand Group, from the perspective of its latest financial results, strategic roadmap, acquisitions, and connected buildings strategy, based on investor presentations, 2021 Capital Markets Day and their 2021 Universal Registration Document. Legrand positions itself as the only global pure player in the electrical and digital building infrastructure industry, with the largest product offering on […]

Smart Buildings

Johnson Controls Accelerates M&A Activity with Bolt-On Acquisitions 

Johnson Controls has announced several bolt-on acquisitions in the last seven months to augment the group’s technology offerings in building management, fire detection and suppression, and physical security solutions.  With six acquisitions to date since the start of their new financial year in October 2021, Johnson Controls is accelerating its M&A activity. Transactions in edge AI software, […]

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