Acquisitions

Nearly 10 years after the merger between Johnson Controls and Tyco in 2016, the $16.5 billion deal stands as one of the most significant consolidation moves in the building technologies sector. Today, with the benefit of hindsight and financial data, we can evaluate whether this mega-merger achieved its ambitious objectives. The 2016 merger created a […]

This Research Note examines the acquisitions and divestments that Trane Technologies has completed over the last 11 years in the smart buildings space.  We have classified these transactions by technology, business model and strategic rationale. This article is intended as a non-exhaustive indicator of Trane’s strategic direction, updating our September 2022 analysis. Acquisition Mapping of […]

In episode 39 of Sh*t You Wish Your Building Did, we dive deep into the unvarnished realities of running a PropTech startup with Michael Grant, founder of Metrikus and co-creator of Smart Building Bootcamp. Michael shares hard-earned insights from 6 years in the trenches, covering everything from the brutal truth about fundraising in 2025 to […]

This Research Note examines Schneider Electric’s acquisition of WattBuy, announced in August 2025.  We highlight the startup’s development and strategic rationale of the acquisition before exploring the overall strategy of Schneider Electric in the US residential energy management space. WattBuy Profile Founded in 2017, Bellevue Washington based WattBuy is a software platform that helps consumers […]

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 […]