Houston SPAC deal closes, high-tech monitoring device co. IPOs

sealed the deal

A deal that's been a year in the making has officially closed. Photo via Getty Images

A sports tech-focused special purpose acquisition company has sealed the deal on its acquisition of a company with thermal imaging and sensing platform technology.

SportsMap Tech Acquisition Corp. (NASDAQ: SMAP) announced the close of its acquisition of Beaumont-based Infrared Cameras Holdings Inc. (ICI), which will be the name of the combined company. The new ticker symbol for the combined company’s common stock and public warrants will be ticker symbols “MSAI” and “MSAIW,” respectively.

“The close of the business combination represents a monumental milestone for our company, as we view the business to be well-suited for the public market," Infrared Cameras’ CEO Gary Strahan says in a news release. Strahan and his executive team will continue to lead the company.

Originally announced in the fall of 2021, the $100 million blank-check company is led by David Gow, CEO and chairman. Gow is also chairman of Gow Media, which owns digital media outlets InnovationMap, EnergyCapitalHTX, SportsMap, and CultureMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The SPAC revealed it would be acquiring ICI just over a year ago. According to the news release, SMAP’s stockholders approved the deal at a special meeting held on December 8.

"I’m happy to complete the business transaction, and equally excited to see Gary and his team deliver a unique product and solution to a diversified sub-set of market verticals," Gow says in the release. "We view this event to serve as the initial catalyst for the Company to deliver long-term shareholder returns.”

ICI's technology includes a patented single pane-of-glass view that can be used to monitor and analyze live imaging and sensing data across industries, including monitoring overheating equipment and methane gas leaks in the oil patch. ICI provides both the physical technology as well as a software-as-a-service component. Following the close of the deal, ICI reports that it will be focused on "new customer expansion, becoming a global online retailer, solidifying operational excellence, and continual improvements" to its technology.

“We have built a diversified integrated thermal imaging and sensing platform that is enhanced by our cloud-enabled technology, allowing for improved operations and critical asset protection," Strahan says. "We believe the support of investors as a public entity will aid our ultimate strategic objective of driving growth through increased enterprise customers, while, over time, positively transforming our margins as a result of our SaaS unit economics.”

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8 can't-miss Houston business and innovation events for December

where to be

Editor's note: Houston’s innovation scene is loading up the calendar before the holidays. From climatetech pitch days to the return of favorite festive shindigs, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Dec. 3 — SouthWest-Midwest National Pediatric Device Innovation Consortium

This annual event brings together members, colleagues and guests of the FDA-supported pediatric consortium who are dedicated to assisting device innovators throughout the lifecycle in delivering innovative solutions to patients. Featured speakers include Dr. Danielle Gottlieb from Le Bonheur Children's Hospital, Balakrishna Haridas from Texas A&M University and Dr. Chester Koh from Texas Children’s Hospital.

This event is Wednesday, Dec. 3, from 3:30-8 p.m. at Texas A&M EnMed Tower. Register here.

Dec. 4 — Resiliency & Adaptation Sector Pitch Day: Scaling Solutions to Address Climate Disruption

Join innovators, industry leaders, investors and policymakers as they explore breakthrough climate and energy technologies at Greentown's latest installment of its Sector Pitch Day series, focused on resiliency and adaptation. Hear from Adrian Trömel, Chief Innovation Officer at Rice University; Eric Willman, Executive Director of the Rice WaTER Institute; pitches from 10 Greentown startups and more.

This event is Thursday, Dec. 4, from 1-3:30 p.m. at the Ion. The Ion Holiday Block Party follows. Register here.

Dec. 4 — The Ion District Holiday Block Party

The Ion District, Rice Alliance and Greentown Labs will celebrate the season during the Ion District Holiday Block Party. Expect to find local bites, drinks, music and meaningful connections across Houston’s innovation ecosystem. Guests are invited to participate in Operation Love’s holiday toy drive supporting local families.

This event is Thursday, Dec. 4, from 4-7 p.m. Register here.

Dec. 8 — Pumps & Pipes Annual Event 2025

The annual gathering brings together cross-industry leaders in aerospace, energy and medicine for engaging discussions and networking opportunities. Connor Grennan, Chief AI Architect at the NYU Stern School of Business, will present this year's keynote address, entitled "Practical Strategies to Increase Productivity." Other sessions will feature leaders from Cena Research Institute, NASA Ames Research Center, ExxonMobil, Southwest Airlines and more.

This event is Monday, Dec. 8, from 8 a.m.-5 p.m., at TMC Helix Park. Register here.

Dec. 9 — Jingle and Mingle

Don your ugliest sweater and snap a pic with Startup Santa! Bayou City Startups, Rocket Network, Founder Institute and Energytech Nexus are bringing back their popular Jingle Mingle for the third year. Network and celebrate with founders, community stakeholders and others in Houston's innovation scene. Donations to the Houston Food Bank are encouraged in place of tickets.

This event is Tuesday, Dec. 9, from 5-7 p.m., at the Solarium in Midtown. Register here.

Dec. 9 — European Innovation Spotlight

Celebrate European cooperation and innovation with the European Innovation Council during an exclusive demo night and networking event at Greentown Labs. Hear from 15 EIC-backed founders supported by the European Union with top-class climatetech technologies, listen to a fireside chat and engage in a networking event following the pitches.

This event is Tuesday, Dec. 9, from 4:30-7 p.m., at the Ion. Register here.

Dec. 9-10 — Energy LIVE

Energy LIVE is Reuters Events' flagship ConfEx that brings the full energy ecosystem together under one roof to solve the industry's most urgent commercial and operational challenges. The event will feature 3,000-plus senior executives across three strategic stages, a showcase of 75-plus exhibitors and six strategic content pillars.

This event is Dec. 9-10 at NRG Park. Register here.

Dec. 15 — Innov8 Hub Pitch Day

Hear pitches from members of the latest Innov8 Hub Innovators to Founders cohort, which empowers academic scientists and innovators to become successful startup founders. Meet and network with the founders over light bites and drinks at a reception following the pitch competition.

This event is Monday, Dec. 15, at the Innovation Center at UH Technology Bridge (Bldg. 4). Register here.

5 Houston suburbs among top places to retire and more innovation news

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Editor's note: It's time to look back on the top Houston innovation news in recent weeks. From Houston's most valuable startups right now to the top places to retire in 2026, here are the most-read InnovationMap stories from November 16-30:

1. U.S. News names 5 Houston suburbs as the best places to retire in 2026

The Woodlands is the No. 4 best place to retire. Photo courtesy of Visit The Woodlands

Houston-area suburbs should be on the lookout for an influx of retirees in 2026. A new study by U.S. News and World Report has declared The Woodlands and Spring as the fourth and fifth best cities to retire in America, with three other local cities making the top 25. Continue reading.

2. 3 Houston companies land on Deloitte’s Technology Fast 500 list

Three Houston companies ranked on Deloitte's annual list, with two cracking the top 100. Photo via Getty Images

Three Houston companies have made this year’s Deloitte North America Technology Fast 500 list. The report ranks the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. The top Houston company to make the list is Action1 Corp., No. 16, a provider of cybersecurity software. Continue reading.

3. Houston’s 10 most valuable startups revealed in new report

Houston's top startups by valuation range from e-commerce startups to a geothermal pioneer. Photo via Getty Images

The Greater Houston Partnership has released its list of the 10 most valuable startups that are fueling the city’s growth and entrepreneurial energy, including industry giants like Axiom Space and Fervo Energy. The list ranks its top 10 startups by valuation based on the company’s last private funding round, reflected in Pitchbook data, as of October 20 of this year. Continue reading.

4. Houston scores $120M in new cancer research and prevention grants

The Cancer Prevention and Research Institute of Texas has doled out 73 more grants to health care systems and companies in the state. Carter Smith/Courtesy of MD Anderson

The Cancer Prevention and Research Institute of Texas has granted more than $120 million to Houston organizations and companies as part of 73 new awards issued statewide. The funds are part of nearly $154 million approved by the CPRIT's governing board earlier this month, bringing the organization's total investment in cancer prevention and research to more than $4 billion since its inception. Continue reading.

5. Photos: Highlights from the 2025 Houston Innovation Awards

Congratulations to the 2025 Houston Innovation Awards winners! Photo by Emily Jaschke

The 2025 Houston Innovation Awards season came to a close on November 13 at InnovationMap's annual awards program and networking event. A full house of attendees gathered to celebrate the best and brightest in Houston innovation right now. Continue reading.

Houston scores $120M in new cancer research and prevention grants

cancer funding

The Cancer Prevention and Research Institute of Texas has granted more than $120 million to Houston organizations and companies as part of 73 new awards issued statewide.

The funds are part of nearly $154 million approved by the CPRIT's governing board earlier this month, bringing the organization's total investment in cancer prevention and research to more than $4 billion since its inception.

“Today marks an important milestone for CPRIT and for every Texan affected by cancer,” CEO Kristen Doyle said in a news release. “Texas has invested $4 billion in the fight against one of the world’s greatest public health challenges. Over 16 years, that support has helped Texas lead the search for breakthrough treatments, develop new cancer-fighting drugs and devices, and—most importantly—save tens of thousands of lives through early cancer detection and prevention. Every Texan should know this effort matters, and we’re not finished yet. Together, we will conquer cancer.”

A portion of the funding will go toward recruiting leading cancer researchers to Houston. CPRIT granted $5 million to bring John Quackenbush to Baylor College of Medicine. Quackenbush comes from the Harvard T.H. Chan School of Public Health and is an expert in computational and systems biology. His research focuses on complex genomic data to understand cancer and develop targeted therapies.

The University of Texas M.D. Anderson Cancer Center also received $3 million to recruit Irfan Asangani, an associate professor at the University of Pennsylvania Perelman School of Medicine. His research focuses on how chromatin structure and epigenetic regulation drive the development and progression of cancer, especially prostate cancer.

Other funds will go towards research on a rare, aggressive kidney cancer that impacts children and young adults; screening programs for breast and cervical cancer; and diagnostic technology.

In total, cancer grants were given to:

  • The University of Texas M.D. Anderson Cancer Center: $29.02 million
  • Baylor College of Medicine: $15.04 million
  • The University of Texas Health Science Center at Houston: $9.37 million
  • Texas A&M University System Health Science Center: $1.2 million
  • University of Houston: $900,000

Additional Houston-based companies landed grants, including:

  • Crossbridge Bio Inc.: $15.01 million
  • OncoMAGNETx Inc.: $13.97 million
  • Immunogenesis Inc.: $10.85 million
  • Diakonos Oncology Corporation: $7.16 million
  • Iterion Therapeutics Inc.: $7.13 million
  • NovaScan Inc.: $3.7 million
  • EMPIRI Inc.: $2.59 million
  • Air Surgical Inc.: $2.58 million
  • Light and Salt Association: $2.45 million

See the full list of awards here.

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