On Verge Of IPO, WeWork Continues To Bulk Up Its Tech Capabilities

Coworking giant WeWork is planning to acquire SpaceIQ, a company focused on analytics software that makes more efficient use of office space. The deal is The We Company's latest move into PropTech as it prepares for its initial public offering as soon as September.

The acquisition is characteristic of WeWork, which has bought nine other companies since the first quarter of 2018, most of them with tech specializations. The deals diversify WeWork's tech capabilities, but as an IPO approaches, there is probably another strategy at work.