PE-backed firms iOFFICE and SpaceIQ merge

iOFFICE, which is backed by Waud Partners, and SpaceIQ, which is backed by Thoma Bravo amd JMI Equity, have merged.

iOFFICE, which is backed by Waud Partners, and SpaceIQ, which is backed by Thoma Bravo amd JMI Equity, have merged. No financial terms were disclosed. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo while Goodwin Procter LLP served as legal counsel to JMI Equity. The newly combined companies will provide smart platforms for managing corporate real estate, physical assets and workplace experience.

PRESS RELEASE

HOUSTON and ATLANTA, Aug. 25, 2021 /PRNewswire/ — 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, today announced that they have merged following strategic investments in the companies by global private equity firms Thoma Bravo and JMI Equity. Together, the combined organization 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.

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. With more than 10,000 customers in over 85 countries, and the most comprehensive product portfolio, the combination of iOFFICE and SpaceIQ creates the clear leader addressing these needs.

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.

“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,” said A.J. Rohde, Senior Partner at Thoma Bravo. “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.”

“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,” said Brian Hersman, General Partner at JMI Equity. “We’re excited to continue our partnership with SpaceIQ and this newly integrated organization to support their next phase of growth.”

Wain Kellum, CEO of SpaceIQ, will remain as CEO of the newly integrated organization. Mark Peterson, CEO of iOFFICE, will focus on leading iOFFICE through the transition to set the merged company up for success.

“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,” said Wain Kellum. “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.”

Kirkland & Ellis LLP served as legal counsel to Thoma Bravo. Goodwin Procter LLP served as legal counsel to JMI Equity.

About iOFFICE:
iOFFICE creates the most responsive, frictionless workplaces everywhere through space planning, employee experience, and asset management SaaS solutions. Our cloud-based, open-API platforms and mobile apps help businesses of all sizes connect data, people, and things wherever work takes place. Through our marketplace of smart building and IoT connectors and global partner network, iOFFICE enables enterprises to increase agility and scalability while streamlining their tech stack. More than 8,000 organizations in 85 countries choose iOFFICE to make their workforces more productive, create exceptional experiences, and simplify facility and equipment management. See why at www.iOFFICECORP.com.

About SpaceIQ:
SpaceIQ makes your workplaces smarter and your employee experiences better. If you need centralized data-driven platform to make better informed decisions about your real estate, we’ve got you. If you want to plan and manage a more productive and efficient work environment, you’ve come to the right place. And if you want to give your employees a frictionless experience so they can do their best work, we do that too. Our mission is to help businesses of all sizes reach their full potential by creating great workplaces that attract and retain the talent they need to grow and succeed. Please visit www.spaceiq.com.