News: One Co.Work acquires IShare Space for 3.5 cr

#MergersAndAcquisitions

One Co.Work acquires IShare Space for 3.5 cr

IShareSpace, which has been valued at USD 0.5 million to USD 1 million in the past, owned a total of 5 centers and 750 seats.
One Co.Work acquires IShare Space for 3.5 cr

One Co.Work, innovation-driven co-working space provider recently acquired IShareSpace, an emerging co-working space provider. IShareSpace, which has been valued at USD 0.5 million to USD 1 million in the past, owned a total of 5 centers and 750 seats. This acquisition has further strengthened the infrastructural framework of One Co.Work. The deal was closed for over 3.5 crores and post-acquisition, One Co.Work will have 8 centers and 1500+ seats to give a substantial boost to the growing popularity of co-working in India.

IShare Space is founded by Priyanka Krishnan and Aayush Maheshwari in 2016 to cater to the needs of modern-day entrepreneurs and professionals. It established its first center in Mumbai and then proceeded to set up co-working hubs in Gurugram, Bengaluru and Chennai catering to MNCs, startups, small business and freelancers.

Commenting on why One Co.Work chose IShare Space, Himanshu Bindal, CEO and Founder, One Co.Work said, “There are so many startups that come up every day out of which some are brilliant enough to be continued a long way but are shut down due to some reasons. One Co.Work wishes to support the co-working economy by acquiring all those ventures that need us so that the economy grows with our expansion.”

The current acquisition is in line with One Co.Work’s recent initiative, EcoSpaze, which necessarily is an affordable office-space for bootstrapped start-ups who are low on resources but high on passion. The concept of EcoSpaze has been specially developed to reach out to markets where there is a lesser paying capacity but a need for fully equipped workspaces. With amenities such as front office/reception desk, an endless supply of tea/coffee, good internet along with modern walls, beautiful furniture, and fancy design, EcoSpaze offers the best value for money.

To ensure the smooth running of the center, One Co.Work ensured that the existing clients will be assisted by the same old staff for their backing. One Co.Work will now focus on further improving the infrastructure of these centers, beautifying and reimagining them to fit the ‘One Co. Work’ experience.

 

Topics: #MergersAndAcquisitions, Workforce Management System

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