Gobble, gobble on these deals-a feast of M+A, partnerships, and other analyses
Smart Building Insight - Partnerships, M+A, public firm developments - December 2025 from Aamidor Consulting
Letter from the Editor
First, for those Stateside who were celebrating a long Thanksgiving weekend with family, we hope you had a great holiday - filled with quality time, a good meal, and lasting memories!
And, as scheduled, we’re back with our first issue of December issue, focused on all the recent M+A, partnerships and also public firm news. As for a quick rundown of the key parts of the newsletter:
Acquisition activities, featuring news from Northshore, CBRE, Asuene , Daikin, and Legence.
Just a few weeks ago, Siemens’ Brightly unit announced an acquisition of Australian startup Setmetrics. We unpack this deal, highlight the cohort of peers like Setmetrics, and describe how it aligns with our 2024 post about enterprise decarbonization analytics (EDA) solutions.
We've updated our market map of deconglomeration moves by the big OEMs, adding Siemens and Honeywell to our first version graphic of Trane, Carrier and JCI.
And all the M+A partnership news that you expect, with news from Verdigris, TMA Systems, Apollo, Daikin, enVerid, Siemens, Delta, Neeve and more.
We also have a shorter section on public firms, highlighting Siemens Q4 and year-end earnings and CxApp.
Joe attended Schneider’s Innovation Summit and shares some thoughts below.
Lastly, Joe will be heading out East this week, to New York City for client meetings. Reach out if you’d like to try to meet up.
And don’t forget to check out our podcast! Lewis Martin and Joe Aamidor host the “Down Low with Joe”, which focuses on market developments and includes interviews with RE decarb/digitization innovators. Check out our YouTube channel or Spotify.
A housekeeping item - our project calendar is filling up for Q1 2026 - please reach out if you think you will need our help (and note, we have a new project inquiry page). We’d be happy to talk - please get in touch soon!
Aamidor Consulting Client Spotlight
We’ve been gradually updating our library of case studies (and plans to market them more widely to current and prospective clients). Here’s a sneak peak of what is to come - a recent 2025 project helping a larger OEM.
Of course, all of the OEMs have been investing heavily in their digital strategies. We posted about JCI’s recent digital strategy comments, and also have a cloud-based timeline (which will be updated) and our OEM digital leaderboard (also will be updated regularly). This is in addition to our M+A and partnership trackers (links are below), plus other resources launching soon for paid newsletter subscribers.
Back to case studies….here’s the new format of a recently completed project.
We are investing heavily in our coverage of how leading industry firms are attacking the smart buildings market - with a focus on what this means to startups / innovators, services firms that may compete with or partner with these firms, and other stakeholders (such as investors). We'd love to talk to you about how can help.
This newsletter is a market wrap-up and analysis of the smart buildings industry. If the email was forwarded to you, sign up to receive it directly.
Before we get into the other sections, did you miss our quick video about a recent talk Joe delivered at the Smart Data for Energy event? If so, you can watch an 8 minute version of the talk here.
Partnerships:
Verdigris has tapped EnergyHUB 360 to lead its channel partner program, combining advanced energy monitoring with hands-on adoption support to accelerate growth across data centers and commercial facilities.
Our take: Verdigris is pushing hard into data centers - surprisingly one of the few smart building vendors with a strong focus in this vertical. And, their strong energy monitoring platform is likely uniquely differentiated from peers in this market. Unlike in traditional commercial buildings, where their technically robust platform may not have had differentiated value to many facility leaders.
How we can help: For innovative firms seeking a better understanding of channel partners and overall partnership strategy, we have a wide lens of solution providers and network of users to validate partner strategy.
TMA Systems has launched a Workday-approved integration that unifies WebTMA and Workday Financials, giving organizations a single, real-time source for labor, cost, and asset data to improve budgeting and operational performance.
Our take: TMA is running a fairly traditional PE-backed rollup strategy, which has led them to make a number of acquisitions, software in new geographies and also for different industries. We also see this partnership as a means to sell to larger enterprises who are more dependent on non-facility platforms (financials, HR, customers/CRM, etc).
