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iOFFICE, an industry leader in workplace experience and asset management solutions, and SpaceIQ, a leading Integrated Workplace Management System (IWMS), space management, and employee experience provider, have merged following strategic investments in the companies by global private equity firms Thoma Bravo and JMI Equity.
Monumental shifts in workplace, facility management, and business-critical equipment requirements, intensified by increased employee expectations for workplace experience and flexibility, have driven demand for tools that enable businesses to adapt more quickly than ever before.
Together, the combined organisation, which has more than 10,000 customers in over 85 countries, and a comprehensive product portfolio, will address a rapidly growing market opportunity through the most complete offering of smart platforms for managing corporate real estate, physical assets, and workplace experience.
Thoma Bravo is joined by JMI Equity, the previous majority investor in SpaceIQ, as primary investors in the combined company. In addition, Waud Capital Partners, the previous majority investor in iOFFICE, will remain invested in the combined company.
A.J. Rohde, Senior Partner at Thoma Bravo, said: “After tracking the workplace and asset management spaces for years, this investment comes at a unique time when modern technologies are critical for managing corporate office space and assets. These complementary franchises will accelerate innovation and we’re excited to work with the team to continue building a world-class business in a market with exceptional growth opportunities.”
Brian Hersman, General Partner at JMI Equity, commented: “By combining the resources of SpaceIQ and iOFFICE, the company will significantly accelerate plans for expanding products and capabilities that help companies succeed in the era of hybrid work. We’re excited to continue our partnership with SpaceIQ and this newly integrated organisation to support their next phase of growth.”
Wain Kellum, CEO of SpaceIQ, will remain as CEO of the newly integrated organisation. Mark Peterson, CEO of iOFFICE, will focus on leading iOFFICE through the transition to set the merged company up for success.
Kellum said: “Our product roadmaps and prospects were tightly aligned, making a merger the best option to accelerate innovation and evolution. Bringing these two companies and teams together gives us unmatched ability to produce the solutions that our rapidly changing industries require. Thoma Bravo’s background in building industry leaders gives us experience, scale, and product capability that no other vendor in our industry comes close to matching.”
As workplaces open up and restrictions lift the role of the FM has become more important than ever.
The challenges presented by the Covid-19 pandemic are now providing a valuable opportunity for FMs to demonstrate their skills and adaptability. Whilst on a practical level FMs are responsible for making buildings safe and comfortable, they are also crucial in attracting people back to the office.
In speaking with industry leaders, it is clear that there are six key areas of focus. Zip has published a white paper which looks at each one, suggesting ways that facilities managers can tackle the complexities and pace of a return to the workplace, whilst demonstrating clear and effective leadership along the way.
To find out more download the white paper here.
