Memoori have been collecting and analysing global M&A data in the Physical Security Industry covering the last 18 years. This article looks at the trends that have taken place over this period driven by the need for consolidation built around innovative products that deliver solutions. We review the impact M&A has had on developing winners and compare against equally successful companies that have grown solely through organic growth. Over the last 18 years the Physical Security industry, has gone through four cycles of rise and fall in the value of activity, sometimes exaggerated by a number of billion dollar deals in one year, such as the merger of Johnson Controls and Tyco of $16.5Bn in 2016. The total value of deals in 2016 was $19.73 billion making it almost three and a half times larger than the previous year. Nevertheless as the chart below shows over this period there is a general upward trend in […]