Smart Buildings

2 Workplace Experience Deals in 1 Day Signals Growing Competition for Dominance

The recent acquisitions of Office App and Lane by HqO and VTS respectively, both announced on 19thOctober, are the latest indication that well-funded workplace experience app suppliers are seeking to gain dominance. The market is still fragmented given the number of players - over 100 suppliers globally, according to our Workplace Experience Apps report.   HqO, a Boston, US-based provider of a tenant experience platform for commercial real estate announced the acquisition of Office App, the Amsterdam, Netherlands-based firm currently active in 20 million square feet across over 100 offices in 24 countries. Office App will enable HqO to increase its European footprint. HqO has received total investment of over $100 million, with a Series C round of $60 million completed in April this year. The North American market has also experienced consolidation and investment activity in mobile apps. With the acquisition of Lane, VTS reports that it will have the largest global customer base for tenant experience, with an addressable 3 million users across 1,400 […]

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