In an effort to turnaround its losses, WeWork has sold off the meeting space technology company it acquired in 2018, Teem. Workplace solutions firm iOffice announced it had acquired the tech startup on Monday with no specifics.
Founded in 2012, Teem offers digital meeting tools, conference room displays and visitor management software that serves over 3,500 companies.
WeWork acquired the company, along with several others, in an effort to solidify its standing as a technology company during its attempt to go public. In October, just a little over a year after the company was purchased, WeWork put Teem up for sale.
This sale follows WeWork divesting other companies it has acquired, such as software company Conductor, Managed by Q, Meetup, Wave Garden and The Wing.
“Teem’s impressive workplace domain expertise is a perfect match for what we’re doing at iOffice, and we’re extremely excited about our future with such an innovative workspace productivity solutions company,” said Mark Peterson, CEO of iOffice. https://www.bisnow.com/national/news/office/wework-sells-another-neumann-era-acquisition-102511