Article courtesy of EG - Boston-based tenant experience giant HqO has acquired European property engagement platform Office App in a deal that will create one of the biggest real estate technology companies in the world, valued at more than $500m (£300m).
HqO, which is used by commercial real estate clients including Nuveen, Grosvenor, Hines, Landsec and LGIM, manages more than 150m sq ft of space across 300 buildings in eight countries. Office App is currently active in 20m sq ft across more than 100 offices in 24 countries and its customers include Blackstone, Colliers, Dell and Finastra.
Outside of the US, HqO has also offices in London and Paris. The acquisition will allow the platform to significantly increase its European footprint.
Chase Garbarino, co-founder and chief executive of HqO, (pictured, above left) said: “Office App has done a tremendous job of building out a robust ecosystem of solutions tailored to the needs of European landlords and corporate occupiers. To that end, we are thrilled to be able to provide our customers a more complete offering with more consultation, higher user engagement rates and more data.”
Thijs van der Burgt, co-founder and chief executive at Office App (pictured, above right), said: “The acquisition accelerates our mission to digitally transform workspaces, changing the landscape of the modern office and giving office workers everywhere access to the tools, services, and perks they need to live, work, and be happy. Together, we can better serve EMEA landlord and corporate clients, access our combined resources to execute on our short- and long-term strategies, and use our product and vision to support real estate on a global scale.”