HqO buys smart building tech from HB Reavis
Real estate tech firm HqO has bought Symbiosy, a portfolio of smart building solutions, from developer HB Reavis.
The investment in the business follow’s HqO’s recent announcement of more than $50m (£41m) of series D funding.
The group said the acquisition would not only further expand its growing occupier business but would help push the firm into new geographies across Europe, including London, Berlin and Warsaw.
Real estate tech firm HqO has bought Symbiosy, a portfolio of smart building solutions, from developer HB Reavis.
The investment in the business follow’s HqO’s recent announcement of more than $50m (£41m) of series D funding.
The group said the acquisition would not only further expand its growing occupier business but would help push the firm into new geographies across Europe, including London, Berlin and Warsaw.
The acquisition of Symbiosy marks HqO’s third acquisition in two years. In June 2022, HqO acquired Leesman, a leader in measuring employee workplace experience, and in November 2021 acquired Office App, a European tenant and employee engagement platform, which expanded HqO’s services into the corporate workspace.
HqO said Symbiosy’s proven delivery of high-quality, digitally-led experiences was directly aligned with its mission to connect real estate to the people through a cross-property suite of applications and services that foster best-in-class, dynamic end-user experiences.
“Adding Symbiosy to the HqO family is the perfect fit with our vision to put people and their experiences of space at the centre of the real estate industry,” said Chase Garbarino, co-founder and chief executive of HqO. “By pairing HqO’s newly launched REX Platform with Symbiosy’s deep expertise in creating intelligent and innovative workplaces, we are reimagining the future of real estate experience.”
Symbiosy’s portfolio of smart office technology solutions offers employee experience, data management, and visualisation tools that support enhanced workplace experiences for increased performance.
HB Reavis chief executive Marcel Sedlak said: “During HB Reavis’ 30 years of experience in real estate, our people-centric approach focused on well-being has proven to generate the most value for real estate businesses and people. Partnering with HqO will enable us to continue focusing on this path while providing the existing Symbiosy customers with enhanced services and solutions.”
“During the five years spent creating Symbiosy within the HB Reavis universe, dedicated to refining the symbiotic connection between buildings, offices and their users, Symbiosy has been on a transformative journey,” said Tibor Nyitray, head of Symbiosy. “Now we are poised to extend this distinctive partnership with HB Reavis and HqO even further. Together, we aim to support our existing clients and introduce our combined product offerings to a broader audience, empowering more customers to harness the advantages of smart building technology, hybrid work support, energy optimisation, and tenant engagement, and enhancing the overall workplace experience and well-being.”
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