AEC

In May 2026, Autodesk agreed to pay $3.6 billion for MaintainX, a maintenance and asset management software company founded just 8 years ago, and the largest acquisition in Autodesk’s history. Measured against what the business earns today, that is about 27 times annualized recurring revenue: MaintainX expects to exceed $135 million in ARR for 2026, […]

This Research Note examines investment trends across the Architecture, Engineering & Construction (AEC) lifecycle, drawing on our Startups in Smart Buildings Report H1 2026, which analyzed early-stage AEC startups developing AI-powered platforms for workflows, productivity and evidence-based decision-making. A Software Landscape in Transformation The AEC software landscape is being reshaped by a wave of early-stage […]

This Research Note examines the technology strategy of JLL, the $26.1B global real estate services firm, investing in startups in the smart buildings space.  We examine the investments of JLL Spark over the past 18 months and highlight their shift in focus, before commenting on their alignment with broader trends in the sector and how […]

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 […]