Commercial Buildings
Data Center M&A Surge: 11 Major Suppliers Battle for Dominance
February 24th, 2026EnOcean Financial Results: Energy Harvesting Pioneer’s 2025 Outlook
February 23rd, 2026
Johnson Controls Joins Data Center Liquid Cooling Deal Frenzy
This Research Note examines the acquisition of Alloy Enterprises by Johnson Controls, announced on 18th February 2026. The startup has developed technology for direct liquid cooled (DLC) components in data centers which enables a reduction in energy consumption. We highlight the innovative manufacturing process, the strategic rationale of the acquisition and our view of this […]
Threat Intelligence 2026: Unlocking a New Era of Physical Security?
In September 2018, two men appeared on Russian state television claiming they had visited the English city of Salisbury as tourists, drawn by its cathedral. British authorities told a different story. They identified the men as suspects in the nerve-agent poisoning of Sergei Skripal and his daughter. Bellingcat, a small investigative group specializing in open-source […]
Trane Buys LiquidStack: 2nd Data Center Deal in 3 Months Signals Ambition
This Research Note examines the acquisition of LiquidStack by Trane Technologies, highlighting the development of the scale-up since its founding, its funding from external investors, and its manufacturing footprint, before assessing how the major HVAC and electrical equipment players have been investing in this high-growth market. Transaction Details On 10th February 2026, Trane Technologies agreed […]
Carrier 2026 Outlook: Double-Digit Growth in HVAC & Aftermarket Expected
This Research Note examines the HVAC and building automation business of Carrier, based on their Q4 Earnings Presentation and Conference Call, 5th February 2026. We highlight their 2025 financial performance, data center strategy, building automation acquisitions, aftermarket strategy, and 2026 outlook before providing a Memoori view on the company, including an update on the Abound […]
Belimo’s Financial Results: Sales Surge by 23.3% in 2025
In this Research Note, we examine the 2025 financial results of Belimo Group, a leading player in the building controls sector. This article is based on their sales development investor presentation of 19th January 2026. We previously covered Belimo in a January 2025 research note. Belimo Holding AG, a listed company on the Swiss Stock […]
ABB Electrification Reports $800m in M&A & Investment Since 2023
This Research Note examines ABB’s Electrification business and their 2025 financial results announced on 29th January 2026. We explore the division’s overall revenues originating from the buildings and data center end markets, based on their revised ABB Factsheet and their acquisitions and investments strategy in 2025, drawing on their Capital Markets Day presentation in […]
Smart Building Startup Ecosystem Faces Tough 2026
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 […]
Honeywell Building Automation: 13% Revenue Growth in FY2025
This research note examines the FY 2025 results and 2026 outlook for the Honeywell Building Automation (BA) segment, highlighting sales growth and statements by the CEO on the business. We also comment on the results and the proposed Honeywell Automation spinoff, expected to be completed in Q3 2026. Honeywell Building Automation Segment Profile The Building […]
Next Page