HqO Acquires Leading European Tenant Experience Platform Office App
HqO, the end-to-end tenant experience platform for commercial real estate properties, today announces that it has acquired Office App, a leading European tenant and employee engagement platform. The new combined entity is valued at over half a billion dollars, making it one of the most significant proptech companies in the world. This valuation reflects the growing importance of workplace experience solutions in the commercial real estate market.
The acquisition brings together solutions for building owners and corporate workplaces, opening up a new market in the tenant experience space. It reinforces HqO's leadership in the tenant experience category and positions it as the dominant global provider of workplace solutions for commercial real estate owners, property teams, and tenant companies. Furthermore, the Office App acquisition will help HqO increase its European footprint and accelerate product development to better support its customers, as Office App is currently active in 20 million square feet across over 100 offices in 24 countries.
“HqO is excited to welcome Office App to the HqO family,” said Chase Garbarino, Co-founder and CEO of HqO. “Providing tenant experience solutions that end at the suite door does not offer a truly connected experience for workers. Office App has done a tremendous job of building out a robust ecosystem of solutions tailored to the needs of European landlords and corporate occupiers. To that end, we are thrilled to be able to provide our customers a more complete offering with more consultation, higher user engagement rates, and more data.”
Currently, HqO services nearly 100 commercial real estate clients worldwide, including Columbia Property Trust, Nuveen Real Estate, Jamestown, Grosvenor, Hines, J.P. Morgan Asset Management, and Legal & General Investment Management. Office App services over 100 buildings worldwide with customers like Blackstone, Colliers, Dell, and Finastra.
HqO and Office App’s merger helps fulfill both company’s mission of transforming how employees engage with the workplace and its surrounding community. In today’s experience-based economy, tenant experience technology is a critical value driver for commercial real estate owners and operators looking to attract and retain tenants through highly personalized and frictionless experiences. By leveraging a toolset that can engage with customers and provide unique and meaningful interactions, properties can differentiate themselves against competition, keep up with the latest demands, and instill value in the workplace.
"The acquisition accelerates our mission to digitally transform workspaces, changing the landscape of the modern office and giving office workers everywhere access to the tools, services, and perks they need to live, work, and be happy,” says Thijs van der Burgt, Co-founder and CEO at Office App. “Together, we can better serve EMEA landlord and corporate clients, access our combined resources to execute on our short- and long-term strategies, and use our product and vision to support real estate on a global scale.”
The additional resources and product offerings made available as a result of the acquisition will improve HqO’s ability to meet the needs of their current and future customers. Both companies will also be able to leverage their shared knowledge and technology to accelerate product development and continue to provide best-in-class services and solutions to commercial landlords and property teams.
The acquisition follows HqO’s recent product announcements around flex space management and tenant satisfaction feedback to help landlords and property teams create complete customer-centric solutions for the workplace experience. The combined HqO-Office App entity will finalize in the following months and send a strong signal to the market about HqOs long-term commitment to becoming the best customer experience platform for commercial real estate clients. Both teams are confident that the whole of their two companies will be greater than the sum of their parts. For more information, visit https://www.hqo.com/.