Workspace provider Industrious has announced two significant acquisitions that will substantially expand its global presence.
The $100 million acquisitions of the Great Room and Welkin & Meraki will expand the company’s footprint by around 1 million square feet, growing its presence in Belgium, France, Hong Kong, The Netherlands, Singapore, and Thailand.
The Great Room has been offering hospitable-focused coworking spaces since 2016, providing entrepreneurs with hot desks and startups with an innovative, collaborative environment. Welkin & Meraki has been offering flexible office space throughout Europe since 2018.
Demand for flexibility has surprisingly grown in the post-pandemic era as companies embrace hybrid work models, but the way in which the industry operates has changed for good.
Instead of wide-open spaces crammed with eager small businesses, companies like Industrious are addressing the need to provide a variety of workspaces for both companies large and small.
“The deals will allow Industrious to better capture the growing global demand for experience-driven, flexible space from occupiers of all sizes,” the company said in a press release. “Motivated by employee demand for greater work flexibility, companies are increasingly leveraging workplace-as-a-service platforms to best support and engage hybrid and distributed teams.”
By the end of the year, Industrious anticipates that it will double its international presence. Perhaps the company will perform more acquisitions or further develop its current acquisitions to attain this goal, but it did not specify.