HqO, the end-to-end tenant experience platform for commercial real estate properties, has announced the acquisition of Office App, Europe’s leading tenant and employee engagement platform. The new combined entity is valued at over half a billion dollars, making it one of the most significant proptech companies in the world and reflecting the growing importance of workplace experience solutions in the CRE market.
The acquisition brings together solutions for building owners and corporate workplaces, opening up a new market in the tenant experience space. It reinforces HqO’s leadership in the tenant experience category and positions it as the dominant global provider of workplace solutions for commercial real estate owners, property teams, and tenant companies. Furthermore, the Office App acquisition will help HqO increase its European footprint and accelerate product development to better support its customers, with Office App currently active in 20 million square feet across more than 100 offices in 24 countries.
Currently, HqO services over 60 commercial real estate clients worldwide, including Columbia Property Trust, Nuveen Real Estate, Jamestown, Grosvenor, Hines, Land Securities Group, J.P. Morgan Asset Management, and Legal & General Investment Management. Office App’s customers include Blackstone, Colliers, Dell and Finastra.
Commenting on the acquisition, Chase Garbarino, co-founder and CEO of HqO said: “HqO is excited to welcome Office App to the HqO family. Providing tenant experience solutions that end at the suite door does not offer a truly connected experience for workers. 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 with a more complete offering with more consultation, higher user engagement rates, and more data.”
Thijs van der Burgt, Co-founder and CEO at Office App, adds: “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.”
The additional resources and product offerings made available as a result of the acquisition will improve HqO’s ability to meet the needs of current and future customers. Both companies will also be able to leverage their shared knowledge and technology to accelerate product development and continue to provide best-in-class services and solutions to commercial landlords and property teams.
The acquisition plans are to finalise in the following months. The combined HqO-Office App entity will send a strong signal to the market about HqOs long-term commitment to becoming the best customer experience platform for commercial real estate clients. Both teams are confident that the whole of their two companies will be greater than the sum of their parts.