Physical Security Industry

In this Research Note, we examine the Chinese video surveillance giant, Hikvision (Hangzhou Hikvision Digital Technology Co., Ltd), focusing on their strategic repositioning and business organization, before highlighting their 2024 results. This article is based on an IR presentation, October 2024, Hikvision’s 2024 Annual Report, 19 April 2025, associated press release, and Memoori analysis. See […]

This Research Note examines Advancis Software & Services GmbH, a medium-sized German company providing physical security & identity software solutions. We review their latest company accounts y/e 31st December 2023 released on 4th February 2025, and comment on their private equity minority investment and positioning in the Physical Security Information Management (PSIM) market. Advancis Profile […]

In this Research Note, we examine Synectics plc, the UK-listed provider of large-scale electronic security systems for critical and regulated environments. This article is based on their Annual Results, year ending 30 November 2024 announced on 04th March 2025, and their InvestorMeet presentation on 10th March 2025. We covered their 2023 results in April last […]

In this Research Note, we examine Allegion’s progress in the digital transformation of its access control business in 2024, before assessing its strategic direction in recent years. Our research is based on Allegion’s 2024 full-year results, 18th February 2025, and acquisitions, strategic partnerships, and investment activity since 2020. We previously mapped their strategic direction in […]

This Research Note examines ButterflyMX, a New York City-based video intercom and access control systems provider founded in 2014. We highlight their product suite, external funding, deployments, acquisitions, and growth before providing our view of the company. ButterflyMX Product Suite ButterflyMX launched its smartphone-powered Video Intercom in 2014. Since then, ButterflyMX has scaled its product […]

In this Research Note, we examine Wavelynx Technologies, a Broomfield, Colorado-based vendor providing mobile-first identity and access control solutions. We take an in-depth look at the origins of the firm, its product portfolio, ownership, growth, regional expansion, and recent partnerships. Wavelynx Origins Wavelynx Technologies was founded in 2013 by Hugo Wendling, who had co-founded XceedID […]

In this Research Note, we examine the divestment of Bosch Security Products to Triton Partners, announced on 12th December 2024. We focus on the transaction, the new owner, and the realignment strategy in Bosch Building Technologies and the Energy and Building Technology business area. Bosch announced it planned to divest the business in October 2023, […]