- Ucommune (formerly UrWork) continues its expansion with the acquisition of Wedo Coworking.
- The partnership has resulted in the largest coworking platform in the Macau-Hong Kong-Shenzhen region.
- This is the third such merger of its kind for Ucommune this year, following partnerships with New Space and Woo Space.
Asia’s fastest growing coworking space, ucommune, signed today (March 28th 2018) the Memorandum of Understanding around its strategic partnership with Wedo Coworking and will complete due procedures over the next month.
In light of the acquisition, ucommune will partner with Wedo in establishing the largest coworking platform in the Macau-Hong Kong-Shenzhen region, as part of it globalisation strategy.
Started in May 2015 in Shenzhen, Wedo is an integrated coworking space and incubator. As of March 2018, Wedo has set up 12 coworking spaces in Shenzhen, culminating in a total area of 60,000 sq m and servicing over 300 enterprises.
Wedo comprises coworking, Wedo-Hoffice, Wedo-Moffice, Wedo-Lab, its ESC enterprise service center and a Global Fintech Technology Laboratory in Shenzhen, which has successfully incubated over 10 enterprises.
In the first quarter of 2018, ucommune completed the merger and acquisitions of two leading spaces – New Space in Jan 2018 and Woo Space in March 2018 – cementing its leadership in China.
Ucommune completed the strategic investment in Wedo last year in July.
As the third merger of its kind this year, the acquisition of Wedo space has resulted in 20 coworking spaces in Shenzhen. Ucommune has become the biggest coworking player in Shenzhen and is bringing the innovation of the Shenzhen-Macau-Hong Kong area to the next level.
In the future, ucommune will strengthen its leadership position through strategic investments and acquisition in Southern China and will link more global resources with its regional coworking spaces, in a bid to maximise the brand equity and to enable more Chinese entrepreneurs.