According to the announcement, Workstudio serves more than 45 clients at “healthy” occupancy levels with a projected potential annual revenue run rate of $4 million.
A subsidiary of India-listed flexible workspace operator Smartworks Coworking Spaces has completed the acquisition of Singapore-based Workstudio Spaces via an all-cash share purchase transaction with an equity value of $2.47 million.
According to a July 7 announcement, the acquisition adds approximately 26,000 sq ft managed office space at 78 Shenton Way to Smartworks’ portfolio, which now seats 1,500 workers across four locations in Singapore, totalling some 76,000 sq ft.
