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WeWork Acquires Managed by Q, Seeking to Expand Beyond Office Leases
CRETech
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1 minute read
WeWork Cos. has added another piece to its growing suite of services.
The shared office-leasing giant said Wednesday it agreed to acquire Managed by Q Inc., which runs a platform that office tenants can use to hire service providers such as cleaning crews, receptionists or IT support staff.
Financial terms weren’t disclosed. The companies said WeWork is using cash and stock to buy Managed by Q, which was valued at $249 million in a financing round in January, according to PitchBook Data Inc.
