Smart Buildings

How Will the Johnson Controls / Tyco Deal Play Out?

Johnnson Control’s offer to acquire Tyco International has been accepted by the Tyco board. However it is not yet a done deal. The premium being offered by Johnson Controls looks reasonable but will it attract other companies to step in with a better offer for the Tyco shareholders? In our New Report on the Security Industry we identified Tyco as one of 50 potential physical security acquisition targets. For a few years now they have been busy buying up some attractive companies and strengthening their portfolio. Our analysis of M&A valuation in the physical security market from 2005 to 2015 shows the average valuation received over the last 11 years benchmarked by EBITDA and Revenue Exit Multiple have varied wildly depending on size and leading technology; Specific areas having high growth rates. In 2014 Google Inc (Nest Labs) paid a revenue multiple of 10 for Dropcam a relatively small video network camera manufacturer and Carlyle […]

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Most Popular Articles

Johnson Controls Tyco Merger
Smart Buildings

Johnson Controls + Tyco: Nearly 10 Years on from the $16.5B Mega Merger

Nearly 10 years after the merger between Johnson Controls and Tyco in 2016, the $16.5 billion deal stands as one of the most significant consolidation moves in the building technologies sector. Today, with the benefit of hindsight and financial data, we can evaluate whether this mega-merger achieved its ambitious objectives. The 2016 merger created a […]

Verdigris Energy Management 2025
Energy

Verdigris: Comprehensive Review of the Energy Management Platform in 2025

This Research Note takes an in-depth look at Verdigris, provider of a hardware-enabled SaaS energy management solution for commercial and industrial buildings. We examine the company offerings, disclosed funding, deployments, and partnerships before providing a Memoori view on the firm. Verdigris Profile Co-founded in 2010 by Mark Chung, CEO, Verdigris Technologies Inc. is headquartered at […]

Learnd Buy Build Strategy
Smart Buildings

learnd’s Strategic €48.5M Management Buyout Signals New Growth Phase

This Research Note examines learnd SE, a Luxembourg public company, which announced on 24th September 2025, that the founders have taken a majority stake and are to take the company private. We explore the transaction details, learnd’s history and buy and build strategy followed by the implications of the organizational change and a Memoori view. […]

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