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NEW YORK CITY- Workplace management platform Eden has acquiredits competitor Managed by Q from WeWork after a months-long biddingprocess. The acquisition amount is undisclosed for the investmentround that Jones Lang LaSalle Technologies led to cement theacquisition, as it joins the JLLT portfolio in a newpartnership.
According to news reports, Edenreceived a deep discount for Managed by Q, whichWeWork paid an estimated $200million for close to a year ago. Eden will absorb Managed by Q'sworkforce, existing clients and vendors. The acquisition means more growth for the firmbut doesn't change anything different from a strategy perspective,J Joe Du Bey, CEO and co-founder of Eden, tellsGlobeSt.com. "Edenwas already in hyper-growth and the acquisition even acceleratesour growth even and makes us a clear category leader for workplaceplatforms," Du Bey said. "It will help us to scale throughout theU.S. and internationally this year."
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
