Co-working giant WeWork has acquired workplace services platform Managed by Q as part of its mission to ‘transform the office’ in a cash and stock deal.
Managed by Q, which employs 500 people, will continue to operate as an independent company while CEO Dan Teran joins the WeWork leadership team.
WeWork said it’ll work with Managed by Q to “create a seamless operating experience for companies to grow and scale” and “to help us realise our vision and propel organisations forward”.
In a statement, WeWork claimed that its global presence combined with Managed By Q’s services expertise “will deliver an unprecedented and seamless office experience for growing companies everywhere”.
Adam Neumann, co-founder and chief executive of WeWork, continued: “Dan Teran is a world-class entrepreneur and has built an incredible business and team based on values perfectly aligned with ours.”
Founded in 2014, Managed by Q has developed a single platform that allows companies to manage all their work tasks and services in one place. The software lets office managers and key decision-makers organise cleaning, maintenance, supplies and other services. It helps organisations save time and money, while transforming the work environment for employees.
Dan Teran said: “We are excited for this incredible opportunity to deepen our commitment to realising our ambitious vision of building an operating system for the built world.
“WeWork is uniquely positioned to invest in workplace technology and services, and I look forward to partnering with their team to build more robust products for our clients and create a global platform to help companies push the bounds on our collective potential.”