Houston SPAC announces merger with Beaumont-based tech company in deal valued at $100M

speaking of spacs

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

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

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

The Cannon's new sportstech hub is just one step in putting a national spotlight on Houston as a city for vibrant sports innovation. Graphic courtesy of The Cannon

Newly opened hub to put Houston on the map for sports innovation

sportstech

Silicon Valley emerged as a consumer tech capital, and Atlanta has carved out a niche for fintech — but as sports innovation continues to be driven by startups and new technology, where should the innovators set up shop?

"There isn't really a sports tech town, and we felt there's an opportunity to stick a stake in the ground and claim Houston as the sports tech capital of the world," says Lawson Gow, founder of The Cannon.

The Cannon in collaboration with Braun Enterprises and Gow Media opened Houston's first dedicated space to sports innovation. (Gow Media is the parent company of InnovationMap.) The new two-story space includes 23 offices and a 1,500-square-foot open space in 53 West, a Galleria-area office building recently renovated by Braun. The hub is adjacent to Gow Media's office alongside Gow Broadcasting LLC and the SportsMap Radio Network, which includes local sports station ESPN 97.5 as well as national syndicated content.

The idea for a sports-focused tech hub has been on the minds of The Cannon team since the early days of The Cannon, where sportstech activity started occurring naturally.

"The sportstech startup scene in Houston caught us by surprise at the very early stages of the Cannon," Gow tells InnovationMap. "We were created to transform Houston's innovation community and part of that was thinking about what things we could win at. Sportstech, for a lot of reasons, seemed really logical to us."

The Cannon's new space is in 53 West, a Galleria-area office building recently renovated by Braun Enterprises. Graphic courtesy of The Cannon

Over the years, The Cannon has grown its network of sportstech startups and developed its programming within the industry. Now, these efforts have a home in The Cannon Uptown - Sports + Media.

"Houston has never been able to attract tech entrepreneurs for any reason, and sports tech can be that reason," Gow says. "Having a sports innovation hub in Houston is only one of a dozen grand initiatives that needs to happen."

Some of those other initiatives include growing sports tech density, introducing new sports-focused accelerators, more events, funding — including venture capital and angel investment — and interest from professional teams.

Another recent sportstech opportunity that's come about in Houston is the SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) going public as a blank-check company last month at $115 million. The SPAC is run by David Gow, Lawson Gow's father and CEO of Gow Media, and plans to find a sports tech business to acquire, specifically in one of four categories within the industry: fan engagement, health and wellness, esports, or fantasy/gambling.

"With the IPO complete, we now begin the search for a company to acquire in the sports tech industry, which we define as the realm where technology is transforming sports," says David Gow. "We have not been able to talk with target companies yet, but have been doing our homework to develop a list. We also plan to tap into the extensive relationships of our board."

The company is backed by an all-star team making up the board, including Oliver Luck, Reid Ryan, David Graf, and Steve Webster.

A new SPAC, SportsMap Tech Acquisition Corp., went public this week. Photo courtesy of Gow Media

Houston entrepreneur launches $100M SPAC, plans to target sports tech

IPO-ed

A new SPAC — a special purpose acquisition company — has officially started trading this week, targeting $100 million in investment and looking for an innovative sports tech company to back.

SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) announced its initial public offering of 10,000,000 units at a price to the public of $10 per unit, and trading began on October 19. The blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, AutomotiveMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The SPAC, which has potential for oversubscription, plans to find a sports tech business to acquire, specifically in one of four categories within the industry: fan engagement, health and wellness, esports, or fantasy/gambling.

"With the IPO complete, we now begin the search for a company to acquire in the sports tech industry, which we define as the realm where technology is transforming sports," says Gow. "We have not been able to talk with target companies yet, but have been doing our homework to develop a list. We also plan to tap into the extensive relationships of our board."

The company is backed by an all-star team making up the board, including Oliver Luck, Reid Ryan, David Graf, and Steve Webster.

"We have assembled a really strong board," Gow says. "In addition to his great tenure at the Astros, Reid has founded banks, served as president of a minor league team and has been investing in sports tech through his family office. Oliver has held positions across multiples sports at both the professional and collegiate levels. David Graf is the founder and CEO of a very successful sports tech company, HUDL. And Steve Webster has had an extraordinary track record in business, as one of the savviest PE and public company investors in Houston.

"The group has a great complement of financial, operations, and transactions experience," he continues.

Leadership for the company also includes David Gow's son, Lawson Gow, who founded the coworking and entrepreneurship hub, The Cannon. He will serve as chief strategy officer for SportsMap Tech Acquisition Corp. Jacob Swain will be the CFO of the SPAC.

David Gow (right) is the chairman and CEO of the new SPAC, and Reid Ryan will serve on the board. Photo by Michele Lee Sparks/Archer Sparks

Calling all sports tech companies. A Galleria-area sports tech hub is opening this summer. Photo via braunenterprises.com

Exclusive: Houston coworking company to open sports tech-focused hub

go team

It's game time for a Houston-based coworking company that's working on opening a sports innovation hub this summer.

The Cannon is working on opening new hub in 53 West, a Galleria-area office building recently renovated by Braun Enterprises. The project is in partnership with Braun and Gow Media, InnovationMap's parent company, and will be co-located with the media business that runs Gow Broadcasting LLC and the SportsMap Radio Network, which includes local sports station ESPN 97.5 as well as national syndicated content.

The Cannon's founder Lawson Gow tells InnovationMap that Gow Media — founded by Lawson's father, David Gow — and Braun Enterprises were opportunistic partners for the organization.

"We've always been optimistically looking for strategic partners that we can co-locate with or team up with to create a hyper focused, niche community," Lawson Gow says. "We've spent a lot of time thinking about what that can be."

Expected to open midsummer, the new two-story space will have 23 offices and a 1,500-square-foot open space that can be used for events. All existing Cannon members will have access to the space, and potential tenants can expect a similar pricing model to The Cannon's other three Houston-area locations.

Houston makes sense for sports tech, which Gow defines as encompassing four categories of innovation — fan engagement, activity and performance, fantasy and gambling, and esports. Houston has the money, the big four sports teams, a big fan base, and corporate interest, he explains.

"Sports tech is a thing we can win at. There's no global hub for sports tech — so Houston can do that," Gow says. "We've always had that in our heads as a direction we want the city to head down, so it just makes it so opportunistic to create a space for that kind of innovation at work for the city."

53 West has been undergoing renovations recently. Photo via braunenterprises.com

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New app by Sports Illustrated grants access to 700 sports courts in Houston

Goal!

A new sports center booking app CatchCorner, powered by Sports Illustrated, enables sports enthusiasts in Houston to seamlessly secure a spot for a quick game without membership fees.

It soft-launched in Houston this spring and, according to co-founder and chief operating officer Maya Azouri, has been a huge success.

"The Houston expansion has been jaw-dropping," she said. "Up until now, CatchCorner’s launch in New York City had been our most successful market, but Houston has launched on par with it."

Within a 30-day period this summer, over 30,000 users join the app, Azouri noted, adding that the app would include 700 unique recreational spaces users can choose from in the city.

"There’s a real sports culture here, with athletes of all levels from casual weekend players to competitive amateurs and even pros. The diversity of the sports community, combined with the number of high-quality facilities across the city, makes it a perfect fit for CatchCorner," she said.

CatchCorner in Houston offers bookings for basketball, volleyball, soccer, pickleball, padel, baseball, badminton, and tennis, with plans to include golf simulators and ice rink sports soon. The Zone Sports, Toros HTX, PAC Gym, and Houston Pickleball Center are among the most popular venues.

Using the app is a snap. Once you pick your sport, venues with available slots are listed including distance from you with the booking schedules in the results so there are no surprises. The slots can go fast, so occasional error messages pop up when trying to book, but it's otherwise a three-click process. CatchCorner also helpfully includes a picture of the facilities while booking.

CatchCorner announced Google integration in June that lets users book through the app directly from searches when they look up specific venues. This is slightly less intuitive to use than the app, but it does ultimately work in both mobile and desktops versions. Either way, it greatly streamlines the booking process for people who just want to schedule a quick pickup game somewhere.

"It’s especially useful for casual players or people who want to organize something on short notice," said Azouri. "Whether it’s a weekend basketball run, a weekday futsal match, or a spontaneous pickleball game with friends, CatchCorner makes it easy to coordinate without the usual logistical headaches.

"Some feedback here has been that we’re like 'Expedia for sports.' It’s because booking a flight online is that easy, booking your next game or workout should be just as simple."

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This article originally appeared on CultureMap.com.

10 Houston billionaires make Forbes' list of richest Americans in 2025

The Rich List

America's wealthiest billionaires are $1.2 trillion richer in 2025, bringing their collective worth to a staggering $6.6 trillion. And Houston's own Richard Kinder has become the richest billionaire in the city, according to the new Forbes 400.

The Kinder Morgan chairman is the 11th richest Texas resident and ranks as the 108th richest American. Kinder also dethroned Tilman Fertitta to claim the title as the wealthiest Houstonian.

The annual Forbes 400 list is a definitive ranking of the wealthiest Americans, using interviews, financial data, and documentation provided by billionaires and their companies.

Kinder's wealth

The publication estimates Kinder's net worth at $10.6 billion, up from $8.1 billion last year. He also appears among Forbes' separate list of the richest billionaires in the world.

"It’s been a year unlike any we’ve seen in the four decades we’ve tracked America’s billionaire class,” said Forbes senior editor Chase Peterson-Withorn in a press release. "The super-rich at the very top are richer than ever — and between the White House and the booming stock market, they’re as powerful as they’ve ever been."

Kinder, 80, co-founded oil and gas pipeline firm Kinder Morgan in 1997, which is now known as one of the largest American energy infrastructure companies. He stepped down as CEO in 2015, though he still chairs the board of directors.

Kinder and his wife, Nancy, also founded Houston-based nonprofit the Kinder Foundation in 1997. The organization provides "major gifts to public causes with the intention of helping people realize healthy and rewarding lives," according to its website.

In May 2025, the Kinders pledged $150 million to Texas Children's Hospital and MD Anderson to create the Kinder Children's Cancer Center.

"Our philanthropic efforts center on supporting transformational projects in Houston, and this initiative exemplifies that mission in every way," said Kinder in a press release. "We were deeply impressed by the extraordinary leadership and unwavering commitment of both UT MD Anderson and Texas Children’s to pursue a bold, collaborative model of care. It is a rare and powerful moment when two leading organizations come together to create something entirely new – something capable of reshaping the future of pediatric cancer care."

The richest Houstonians

In all, 43 Texas billionaires made it on the 2025 Forbes 400 list, and 10 are based in the Houston metro.

Hospitality honcho Fertitta, 68, is the second-richest billionaire in Houston, and his net worth has jumped from $10.1 billion last year to $11 billion in 2025. He owns the Golden Nugget Casinos, the Houston Rockets, Texas-based restaurant and entertainment company Landry's, and also serves as the U.S. Ambassador to Italy.

"Serving as President Trump's ambassador to Italy 'is a real job,' says Fertitta, who personally oversaw the renovation of Villa Taverna, the ambassador's residence in Rome," Forbes wrote in his profile.

Fertitta most recently put his ritzy 250-foot-long superyacht on the market for about $192 million, with Forbes saying he "has a bigger one on order."

Here's how the rest of Houston's billionaires fared on this year's list:

  • Oil tycoon Jeffery Hildebrand ties for No. 123 nationally with an estimated net worth of $10 billion. Last year: $7.6 billion.
  • Toyota mega-dealer Dan Friedkin ranks 128th nationally with an estimated net worth of $9.7 billion. Last year: $7.6 billion.
  • Houston pipeline heir Randa Duncan Williams ranks 130th with an estimated net worth of $9.5 billion. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 135th nationally. Each has an estimated net worth of $9.4 billion. Scott Duncan ranks No. 141 with a $9.2 billion estimated net worth.
  • Houston Texans owner Janice McNair ranks 201st nationally with an estimated net worth of $7.3 billion. Last year: $6.2 billion.
  • Energy exploration chief exec George Bishop of The Woodlands ranks No. 325 with an estimated net worth of $4.7 billion. Last year: $5 billion.

Richest billionaires elsewhere in Texas

The richest person in America in 2025 is none other than Austin-based Elon Musk. Musk, 54, saw his net worth skyrocket to $428 billion this year, or $184 billion more than his 2024 net worth. He claimed the No. 1 spot for the fourth time.

Walmart heiress Alice Walton of Fort Worth was dubbed the wealthiest woman in America for 2025. Walton, 75, simultaneously holds the title as the richest woman in the world. Forbes estimates Walton's net worth at $106 billion (up from $89.2 billion last year) and proclaims her as the first female centibillionaire (a person with a 12-digit fortune) in America. Now that's wealth.

"Tariffs. Inflation. Slowing employment. None of it has hit the fortunes of America’s billionaires," Forbes said. "A decade ago, when it took $1.7 billion to make The Forbes 400, a net worth of $3.8 billion was comfortably within the top half of the ranking — now that lofty sum is the minimum required."

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This article originally appeared on CultureMap.com.

Rice leads Texas colleges on LinkedIn's first-ever career success ranking

honor roll

Houston’s Rice University leads the Texas schools in LinkedIn’s first-ever ranking of the 50 best U.S. colleges for long-term career success.

Rice appears at No. 31 in the ranking. Southern Methodist University, located in the Dallas suburb of University Park, lands at No. 37 and the University of Texas at Austin shows up at No. 46.

LinkedIn, a career networking site, says the ranking is based on exclusive data about alumni, such as job placement rates, advancement into senior-level jobs, post-graduate formation of startups, and pre-graduation internships.

“A four-year bachelor’s degree is a significant investment of time and money, especially as tuition costs rise and the job market shifts,” the LinkedIn report says. “For millions of Americans, the return on investment is worth it. Those who earn the degree can see an enduring impact on their earning potential and overall career trajectory.”

Where someone earns a degree can have an even bigger impact, according to LinkedIn, as graduates of top programs often land jobs more rapidly, build strong professional networks, and rise to leadership roles more quickly.

“Long-term success isn’t just about landing a great first job; it’s about sustained career growth and opportunity years after graduation,” Andrew Seaman, senior editor-at-large for jobs and career development at LinkedIn News, told Fortune. “For this list, that means looking at how well a school sets alumni up for the long haul.”

Here’s a breakdown of some of the data about the three Texas schools on the LinkedIn list:

Rice University

  • Top industries of graduates: Technology, business consulting, higher education
  • Top post-graduation destinations: Houston, San Francisco Bay Area, New York City
  • Notable skills: MATLAB programming language, engineering design, data science

Southern Methodist University

  • Top industries of graduates: Financial services, business consulting
  • Top post-graduation destinations: Dallas, New York City, Los Angeles
  • Most notable skills: AMPL programming language, Avid iNews content creation system, data science

University of Texas at Austin

  • Top industries of graduates: Technology, medical practices, advertising
  • Top post-graduation destinations: Austin, Dallas, Houston
  • Most notable skills: SOLIDWORKS computer-aided design software, architecture, Avid Media Composer video editing software
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