Acquisitions
Honeywell Strategy Update: Building Automation Business Acquires Carrier’s Global Access Solutions
December 11th, 2023Siemens Buildings Business & FY 2023 Financials Examined
November 27th, 2023
Securitas Technology Business and Financials Examined
Almost two years on from the announcement that STANLEY Security was to be acquired in December 2021, this Research Note examines the electronic security business of Securitas, rebranded as Securitas Technology, based on Securitas investor presentations, 2022 annual report and Q3-2023 interim report, 7th November 2023. This article highlights the strategy, financials and progress of […]

Apleona Technical Facility Management Business Examined
In this Research Note, we examine Apleona, a leading German real estate technical services provider and facility manager, based on their recent activities, 2023 projected revenues, M&A strategy, and target markets. Based in Neu-Isenburg near Frankfurt am Main, Apleona successfully closed the merger with Gegenbauer, another German facility and real estate service provider as of […]

Schneider Electric Capital Markets Day 2023: Key Takeaways for Smart Buildings
Schneider Electric hosted its Annual Capital Markets Day for investors and financial analysts, at the Tottenham Hotspur Stadium in London on 9th November 2023. This Research Note focuses on the French conglomerate’s perspective of its energy management and automation portfolio in the smart commercial buildings market. Key takeaways are highlighted across its offerings and vertical […]

How have Tech Job Losses Impacted the Smart Buildings Space? Part 1: BIoT Platforms
In this Research Note, we examine trends in job losses in the smart buildings startup space. The analysis is based on LinkedIn headcount reduction data over the past two years and our own compilation of statistics relating to startups undergoing redundancies, restructuring and downsizing. We have highlighted 8 examples of job losses in the BIoT […]

Sauter Group Building Automation Business 2023 Examined
In this Research Note, we examine the Sauter Group, a Basel, Switzerland-based provider of building management and room automation solutions. This article updates our coverage in May 2022 of Sauter’s growth strategy. Founded in 1910, Fr. Sauter AG is privately owned by the founding families (FABREL AG and FS Familienholding AG). With over 20 subsidiaries, […]

Eptura Workplace Technology and Software Business Examined
The unification of Archibus, SpaceIQ, Serraview, and iOffice to form Eptura in October 2022 was one of the major mergers in the global integrated workplace management (IWMS) sector. This Research Note examines the business, one year on. Headquartered in Atlanta, Georgia and with large regional offices in London, UK and Melbourne, Australia, Eptura was created […]

Bosch To Sell Security Products Business, Building Technologies to Focus on Systems Integration
In this Research Note, we examine what’s behind the proposed sale of Bosch Security Products and the realignment to focus on systems integration business in the Building Technologies division, announced on 26th October 2023. This article updates our Bosch Energy & Building Technology Business 2022 Examined article and our coverage of the recent acquisition of […]

Acuity Brands Intelligent Spaces Group & FY2023 Financials Examined
In this Research Note, we examine the development of Acuity Brands Intelligent Spaces Group (ISG) and its 2023 financial results, y/e 31st August 2023. Our analysis is based on their 4th October 2023 presentation, analyst call and announcements throughout the fiscal year. This article updates our previous analysis published last year. While lighting makes up […]