Shanghai-based co-working space operator naked Hub is planning to acquire Australia’s premium co-working space provider Gravity Coworking as part of its efforts to expand its presence globally, according to a China Money Network report.
The report quoted Jonathan Seliger, CEO of naked Hub, as saying that the deal “will bring together two proven innovators in the Asia-Pacific co-working space, and lays the groundwork for continued rollout across the region and the globe”. No financial details of the planned acquisition were disclosed.
The deal has not been officially signed yet and is expected to be inked next week, a media spokesperson for naked Hub told DEALSTREETASIA.
Gravity Coworking was founded in 2014 by Sergio Pires and Jacqui Esdaile. It operates three co-working spaces in Sydney, Melbourne, and Brisbane, targeting entrepreneurs and professionals. With over 5,000 square meters of space, it has become the premium co-working provider on the east coast of Australia.
“With a range of membership options, from full time permanent desking, through to part time and casual visits, we cater for single entrepreneurs as well as growing small businesses and corporate teams looking for space in which they can host a project or innovation team,” Gravity said on its website.
naked Hub is opening new locations across mainland China, Hong Kong, the Asia-Pacific region and Europe, capitalizing on the fast-growing co-working market.
naked Hub currently has 44 Hubs open or in the pipeline across the world in Mainland China, Hong Kong, Vietnam, Australia, and the UK. It aims to operate 194 co-working spaces by 2020. In October 2017, the company announced plans to go public in Hong Kong this year after a fresh round of fundraising.