The companies have set no timetable for the talks but observers note that there is relatively little overlap between the two operations: Regus is strongest in Europe while HQ is dominant in the Americas. But industrial logic is not always sufficient to make a deal, and shareholders will need to be convinced that the all-share offer is justified.
Regus was founded by Mark Dixon in 1989 with a single centre overlooking Stephanie Square in Brussels, Belgium. By 2000 an IPO on both NASDAQ and the London Stock Exchange confirmed Dixon and a billionaire. Regus is now represented in 50 countries, with a network of 370 business centres offering some 77,000 workspaces.
In its current form HQ was created in mid-2000 by the merger of Carr America's HQ with Frontline Capital's Vantas brand. Carr America remains a minority shareholder as does Sam Zell's Equity Office Properties Trust. HQ has more than 469 owned, managed, or franchised business centres in 17 countries.
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