News Article Equiem flex investment office proptech SpaceOS tenant
by Property Forum | Investment

Australian firm Equiem, which offers tenant services for office buildings, has acquired SpaceOS, a European company for workplace management software, in a deal that adds Hitachi as a partner, Reuters reports.

The deal, whose terms were not announced, will provide capital for further acquisitions and the integration of Dublin- and Warsaw-based SpaceOS to Equiem's tenant experience-focused platform. The acquisition expands Equiem's footprint beyond North America, Britain and Ireland to more than 25 countries. Equiem also gains SpaceOS's partnership with the Munich-based venture capital arm of Hitachi, along with German investors BeyondBuild, MOMENI Ventures, Caleus and others that have focused on digital and real estate technology.

"Landlords really need to provide services now well beyond just the four walls and windows. They've been talking about this for years, but it's happening right now, and it can only be done with the right technology toolkit and that technology toolkit has to hit a lot of different buttons," Gabrielle McMillan, CEO of Equiem told Reuters.

SpaceOS founders Marley Fabisiewicz and Maciej Markowski will join Equiem's executive leadership in global roles as Chief Strategy Officer and Chief Growth Officer, respectively, Equiem said. Tobias Jahn, a partner of Hitachi Ventures, will join Equiem's board.

Both companies reported strong growth over the past 12 months. SpaceOS doubled recurring revenue and Equiem increased by 2.5 times the number of buildings using its platform. The merged company will serve 850 buildings, more than 15,000 companies and 300,000 users, McMillan told Reuters.