AEC

This Research Note examines the May 2026 acquisition of MaintainX by Autodesk, the $7.2 billion architecture, engineering, and construction (AEC) software giant.  We highlight the transaction details, the strategic rationale of the acquisition and a profile of the CMMS startup before commenting on our view of this deal. Transaction Details Autodesk, Inc. entered into a definitive […]

This Research Note examines Spacewell and Crem Solutions, the Manage segment of Nemetschek Group. We report their 2025 financial highlights, announced on 19th March 2026 and recent initiatives, before assessing the future prospects of the businesses. This article updates our previous coverage of the group in April 2025. Nemetschek Manage Segment Spacewell (headquartered in Antwerp, […]

The smart building startup ecosystem stands at an inflection point. We’ve identified only 11 new smart building startups founded in 2025, and there has been a steady decline from the peak of 195 in 2016. At the same time, acquisition activity has exploded, with 98 startup acquisitions in 2025, a 75% increase on 2024 and […]

Something fundamental has shifted in the smart building startup landscape. Our new report, Startups in Smart Buildings 2026, reveals an ecosystem that has moved decisively from creation to consolidation. We identified only 11 new startups founded in 2025, and there has been a steady decline from the peak of 195 in 2016. At the same […]

This Research Note explores the recent announcement that Consigli, a Norwegian engineering software startup has been acquired by AECOM. We examine the transaction details, Consigli’s approach to AI-driven engineering workflows in real estate development, AECOM’s strategic rationale, and the impact on the AEC sector. Transaction Details Global infrastructure engineering giant AECOM has acquired Norwegian AI […]

This Research Note examines the recent Legence Corp. filing at the US SEC for an Initial Public Offering.  We highlight the transaction details, profile the business segments offering engineering, installation and maintenance services and sustainability consulting, and explore the financial highlights of the $2.1 billion revenue company. Transaction Details Blackstone is exploring a potential sale […]

In this Research Note, we examine Spacewell, part of the Manage segment of Nemetschek, which provides software for the management and operations phase in the building lifecycle. This article is based on Nemetschek 2024 annual results, investor presentations and Annual Report, published on 20th March 2025.  We also highlight the appointment of a new CEO, […]

In this Research Note, we examine the possibility of Autodesk, the $5.5 billion architecture, engineering, and construction (AEC) software giant acquiring Eptura, the IWMS player formed in October 2022 from the merger of 10 separate workplace software brands. We review the relationship between the two companies, highlight Autodesk’s strategy to extend its portfolio into building […]