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  6. iOFFICE Acquires Teem

M&A Deal Summary

iOFFICE Acquires Teem

On January 14, 2020, iOFFICE acquired software company Teem from WeWork

Acquisition Highlights
  • This is iOFFICE’s 2nd transaction in the Software sector.
  • This is iOFFICE’s 2nd transaction in the United States.
  • This is iOFFICE’s 2nd transaction in Utah.

M&A Deal Summary
Date 2020-01-14
Target Teem
Sector Software
Buyer(s) iOFFICE
Sellers(s) WeWork
Deal Type Divestiture

Target

Teem

Highland, Utah, United States
Teem LLC is a software and analytics provider that gives enterprises the tools, data, insights, and analytics to help them optimize their spaces and unleash their team’s potential. Teem helps customers and millions of people better utilize space and employees be more productive through advanced meeting tools (including conference room scheduling and desk reservations), detailed workplace analytics (such as tools to pinpoint underutilized space), and ways to welcome and manage visitors. Teem LLC was established in 2012 and is based in Highland, Utah.

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Buyer(S) 1

Buyer

iOFFICE

Houston, Texas, United States
Category Company
Sector Internet Software and Services
DESCRIPTION

iOFFICE is a provider of enterprise workplace SaaS platform, mobile tools and analytics to simplify facility management, empower employees and increase workplace productivity. iOFFICE is based in Houston, Texas.

DEAL STATS #
Overall 3 of 3
Sector: Software M&A 2 of 2
Type: Divestiture M&A Deals 1 of 1
State: Utah M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 ManagerPlus Solutions

Sandy, Utah, United States

ManagerPlus Solutions LLC is an asset management SaaS provider. ManagerPlus maintenance software is an easy-to-use asset management software system that helps companies in asset-intensive industries increase their return on investments while decreasing costs of operation. ManagerPlus Solutions LLC was founded in 1992 and is based in Sandy, Utah.

Buy -

Seller(S) 1

SELLER

WeWork

New York, New York, United States
Category Company
Founded 2010
Sector Real Estate
Revenue 3.2B USD (2022)
DESCRIPTION
WeWork co-working office in Austin, Texas.
WeWork co-working office in Austin, Texas.

WeWork is a global network of co-working offices and living spaces that looks to foster a community amongst its members. WeWork was established in 2010 and is based in New York, New York.

DEAL STATS #
Overall 3 of 7
Sector: Software M&A 1 of 2
Type: Divestiture M&A Deals 1 of 5
State: Utah M&A 1 of 1
Country: United States M&A 3 of 7
Year: 2020 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-12 Spacious

New York, New York, United States

Spacious has partnered with landlords to make the most of their street-level real estate, creating a network of conveniently-located drop-in workspaces in New York City where people can walk in and get work done. Spacious’s offerings range from day passes to annual memberships, providing easy access for everyone from remote workers to Fortune 500 employees.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-03 Managed by Q

New York, New York, United States

Managed by Q is the platform for office management. Q makes it easy to run an office by connecting offices to services, including cleaning, maintenance, office administration, IT, and security. Companies use Q’s marketplace to discover vetted service providers, request project quotes, schedule work, and pay for office services, all in one place. A solution for recurring and ad-hoc office needs, Q saves companies valuable time and supports office operations for thousands of businesses nationwide.

Sell -
Mergr

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